Spot Bitcoin And Ethereum ETFs Record First Outflows After Trump’s Victory

Key takeaways

• Spot Bitcoin and Ethereum ETFs have ended their streak of inflows since Trump's victory on November 5.
• On Thursday, Bitcoin and Ether ETFs closed with negative flows of over $400 million and $3.2 million, respectively.
• The broader crypto market rally has stalled, with Bitcoin retracting below the $90,000 threshold.

US Spot Bitcoin ETFs Record $400.67 Million In Net Outflows

The US spot Bitcoin and Ethereum ETFs ended their streak of positive flows since Donald Trump's victory. According to the data from SoSoValue, spot Bitcoin ETFs recorded net outflows of $400.67 million, halting their six days of positive flows.

Fidelity's FBTC was the biggest loser for the day, with an exit of over $179.16 million. Following the outflows, FBTC boasts net inflows of $10.94 billion since its launch.

Ark Invest & 21Shares' ARKB and Bitwise's BITB followed closely with net outflows of $161.7 million and $113.9 million. Grayscale's ETF (GBTC) and its mini fund (BTC) posted $74.9 million in net outflows.

Conversely, BlackRock's IBIT and VanEck's HODL recorded $126.53 million and $2.5 million in net inflows, respectively. The remaining four ETFs closed the day with net zero flows.

All the US BTC ETFs hit a daily trade volume of $4.82 billion on Thursday, down from $8.07 billion recorded the previous day. They boast net inflows of $27.83 billion and total net assets of over $92.56 billion.

Notably, the 12 US spot Bitcoin ETFs last witnessed net outflows of $116.8 million on November 5, the US election day. This trend was due to investors' uncertainty over the potential winner as market prediction polls showed tight results between Trump and Kamala Harris.

However, the market sentiment turned positive following Trump's victory, sparking significant crypto price rallies.The impressive Trump trade" was fueled by Trump's pro-crypto stance and promises of favorable crypto policies in his regime.

The victory drove spot Bitcoin ETFs to hit their largest-ever daily inflows of $1.37 billion on November 7. This value contributed to the six-day positive flow streak, which amassed a total of $4.7 billion in assets.

Ethereum ETFs Lose $3.2 Million As Broader Crypto Market Retracts

Data from Farside Investors disclosed a similar trend in spot Ethereum ETFs on Thursday as they posted $3.2 million in net outflows. Grayscale's ETHE saw the largest net outflows of $21.9 million. Also, VanEck's ETHV closed the day with $1.1 million in net outflows.

On the other hand, BlackRock's ETHA and Invesco Galaxy's QETH posted net inflows of $18.9 million and over $900,000. The remaining ETFs reported net zero flows for the day.

All the ETH ETFs accumulated over $796.2 million in net inflows within the last six days of their positive trend.

Based on the euphoria of Trump's victory, Bitcoin hit a new ATH of $93,434, with most coins recording impressive gains. However, the broader crypto market reflects signs of retraction after its bullish momentum.

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