U.S.-based spot Bitcoin and Ethereum ETFs saw a pullback on Thursday, marking the first outflow streak since Trump’s election on Nov. 5. According to Farside Investors, these 11 ETFs collectively lost about $400.7 million on Nov. 14. Bitcoin’s price dropped over the day and is now down 2% in the past 24 hours, trading at $88,200.
The only two funds with positive inflows were BlackRock’s iShares Bitcoin Trust ETF (IBIT), which brought in $126.5 million, and a smaller $2.5 million addition to the VanEck Bitcoin ETF (HODL). Meanwhile, Fidelity’s ETF saw the biggest outflow, losing $179.2 million.
This was followed by $161.7 million withdrawn from the ARK and 21Shares joint ETF and $113.9 million from Bitwise’s fund. Grayscale’s ETF and its mini version faced combined outflows of $74.9 million.
ETF outflows hit as Trump sparks crypto rally
ETFs are seeing outflows for the first time since Trump’s victory in the Nov. 5 presidential election, which sparked a major crypto rally. This surge sent Bitcoin up by nearly 30%, reaching a peak of $93,500 by Nov. 13. The last significant outflow, totaling $116.8 million, occurred on election day as investors faced uncertainty over the tight race between Trump and Democratic challenger Kamala Harris.
When it became clear the Republican candidate had won, financial markets saw a boost, driven by what many called the “Trump trade.” Investors were encouraged by his promises to strengthen the U.S. economy. Bitcoin ETFs saw record inflows on Nov. 7, with $1.37 billion coming in on that day alone. Over six days, these funds attracted $4.7 billion, marking a significant streak of investor confidence in Bitcoin.
Meanwhile, according to Farside, US spot Ether ETFs experienced their first net outflow since Trump’s election win, with $3.2 million withdrawn on Nov. 14. This marks the end of a nearly $800 million inflow streak that began on Nov. 4, the last time these funds saw an outflow. Over the past 24 hours, ETH has dropped nearly 5%, now trading below $3,100.
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