Bitcoin ETFs Score $620M Inflows and Reverse Pre-Election Exits

• U.S. Bitcoin ETFs command $76.48 billion in BTC or 5.08% of its market cap.
• BTC has hit an all-time high post-election and is now trading above $75,000.
• Ethereum ETFs hold $7.42 billion in ETH, or 2.29% of its market cap.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) are reversing a pre-election outflow trend with an enormous combined inflow of over $670 million.

Bitcoin ETFs had a feverish day of trading totaling $6.06 billion, a figure not seen since March 2024. Meanwhile, ETH ETFs saw higher-than-average volumes and moved toward positive cumulative inflow territory.

Bitcoin ETFs

As per SoSoValue, Bitcoin ETFs have pulled $621.9 million  in total net inflows on Nov. 6, almost fully negating a three-day outflow streak amid the U.S. Presidential Elections.

After a four-day outflow streak, Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw its largest inflows since June 5, bagging $308.77 million. As the second-best performing BTC ETF, the fund has seen $10.45 billion in cumulative net inflows and holds $14.26 billion in net assets.

The ARK 21Shares Bitcoin ETF (ARKB) captured a solid $127 million, raising its cumulative net inflows to $2.59 billion, ranking it third under FBTC. The Grayscale Bitcoin Mini Trust saw it’s largest inflows since launch, netting $108.81 million.

The Bitwise Bitcoin ETF (BITB) has begun retaking ground after a week of outflows, tallying $100.92 million in net inflows. In a rare turn, the Grayscale Bitcoin Trust (GBTC) captured a modest $30.91 million in net inflows, its cumulative outflows remain a woeful $20.19 billion.

VanEck’s Bitcoin ETF (HODL) tallied $17.18 million to its portfolio, which is now close to hitting $1 billion in net assets.

As for outflows, BlackRock’s iShares Bitcoin Trust (IBIT) saw a rare day of outflows, shedding $69.11 million in exits. This would also mark the first time IBIT has seen two consecutive days of outflows. However, it’s not an issue for IBIT, which dominates with $26.06 billion in cumulative net inflows.

Finally, the Valkyrie Bitcoin Fund (BRRR) shed a very humble $2.58 million, marking day four of an outflow streak for the BTC ETF.

Ethereum ETFs

As per SoSoValue, Ethereum ETFs pulled a solid $52.29 million  in total net inflows on Nov. 6, as ETH funds slowly reverse outflow trends.

Leading today’s inflows, Fidelity’s Ethereum Fund (FETH) has gained $26.9 million in net inflows after a rocky start to the week. FETH is the second-best performing ETH fund in terms of cumulative net inflows, which stand at $510.01 million.

The Grayscale Ethereum Mini Trust was the only other gainer for the day, notching $25.39 million to its portfolio, raising its cumulative net inflows to $296.45 million.

It’s worth noting that the total value traded on Nov. 6 was $373.97 million, a figure not seen since the early launch days of ETH ETFs. Furthermore, funds have had a cumulative total net flow of over -$550 million on average since early September, and it now stands at $502.37 million.

Perhaps ETH ETFs may finally see a trend reversal after weeks of underperformance. Coupled with ETH’s token price momentum, institutional ETH markets are looking increasingly bullish.