On November 14, a significant shift occurred in the performance of Bitcoin and Ethereum exchange-traded funds (ETFs) based in the United States, marking an end to a streak of inflows that had persisted since Donald Trump’s election on November 5. According to data from Farside Investors, the collective 11 ETFs experienced a notable outflow totaling $400.7 million, coinciding with a downturn in Bitcoin ’s price, which fell by 2% over the previous 24 hours to $88,200.
While the majority of the ETFs reported losses, BlackRock’s iShares Bitcoin Trust ETF (IBIT) managed to attract $126.5 million in net inflows. Additionally, the VanEck Bitcoin ETF (HODL) recorded a modest influx of $2.5 million. However, Fidelity’s ETF faced the largest outflow, with $179.2 million departing, closely followed by combined losses of $161.7 million from the ARK and 21Shares ETF and $113.9 million from Bitwise’s offering. Grayscale’s offerings also contributed to the overall downturn, with a total of $74.9 million exiting the market.
This pivot to outflows is particularly striking, as it is the first instance of such declines since Trump’s election led to a surge in the crypto market. Following the election, Bitcoin prices surged significantly, reaching a peak of nearly $93,500 by November 13, largely propelled by optimism around pro-crypto policies.
In the realm of Ethereum , net outflows of $3.2 million were recorded in spot Ether ETFs on the same day. The shift comes after a robust inflow period that amassed nearly $800 million since November 4. Despite this latest dip, BlackRock’s iShares Ethereum Trust ETF (ETHA) attracted $18.9 million, while the Invesco ETH fund saw a $900,000 inflow. However, the Grayscale Ethereum Trust ETF (ETHE) was responsible for the most substantial outflow, totaling $21.9 million.
