Bitcoin ETFs are facing mounting investor withdrawals as the market downturn deepens, with the cryptocurrency falling below $70,000 on Friday and reaching its weakest price level since August. The latest outflows highlight a sharp deterioration in institutional demand after the funds began the year with positive flows.

According to SoSoValue figures reviewed by CoinDesk, U.S.-listed spot Bitcoin ETFs have now recorded $1.56 billion in cumulative net outflows in 2026. This marks a significant reversal from late October, when the funds were still showing $1.01 billion in net inflows as of October 29.

The change accelerated on October 30, when investors pulled $643.3 million from the products. That single session reduced their year-to-date net inflows to approximately $368 million, setting the stage for further withdrawals in November.

Selling pressure has remained elevated. Bitcoin ETFs recorded $643.6 million in net outflows through Thursday this week, following withdrawals of $1.28 billion the previous week and $202.6 million during the week before that.

The latest figures bring the number of weeks in 2026 with outflows above $500 million to 12. Bitcoin ETFs experienced 15 weeks of comparable withdrawals in 2025, while 2024 saw only four.

The pace of redemptions could make 2026 the worst year on record for large weekly Bitcoin ETF outflows. If another four weeks exceed the $500 million threshold during the year’s remaining six weeks, the annual total would surpass the previous high.

That would represent a notable shift from the funds’ earlier performance. U.S. spot Bitcoin ETFs attracted $35.24 billion in net inflows in 2024 and a further $21.37 billion in 2025.

The persistent withdrawals are adding to Bitcoin’s downside pressure as prices weaken. With institutional investors reducing their exposure, ETF demand is providing less support for the market at a time when broader sentiment is already deteriorating.