Bitcoin ETFs rally again following the U.S. Presidential Election.,
(Photo by Michael M. Santiago/Getty Images)
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Key Takeaways
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.
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.
Bitcoin ETF flows. Source: SoSoValue
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.
Ethereum ETF flows. Source: SoSoValue
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.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
