Author: Jesse Coghlan, CoinTelegraph; Translated by: Wuzhu, Golden Finance
On Thursday, U.S. spot bitcoin and ethereum exchange-traded funds ended a string of inflows since Donald Trump was elected president on Nov. 5.
Data from Farside Investors shows that 11 ETFs saw a combined net outflow of $400.7 million on Nov. 14 as Bitcoin fell on the day, down 2% in the past 24 hours to $88,200.
The only two funds to see positive inflows were BlackRock’s iShares Bitcoin Trust ETF (IBIT), which saw net inflows worth $126.5 million, and a smaller $2.5 million inflow into the VanEck Bitcoin ETF (HODL).
Fidelity ETFs had the largest net outflows at $179.2 million, followed by the combined ARK and 21Shares ETF at $161.7 million and the Bitwise fund at $113.9 million. Grayscale ETFs and mini-ETFs had combined outflows of $74.9 million.
This was the first outflow from the ETF since Trump won the presidential election on Nov. 5, which sparked a massive cryptocurrency rally that saw Bitcoin surge about 30% to a peak of nearly $93,500 as of Nov. 13.
Bitcoin has rebounded from around $68,000 on November 5 to over $93,000, breaking new highs along the way. Source: TradingView
The last time the ETFs saw a combined outflow of $116.8 million was on Election Day, when there was uncertainty about who would be president and polls predicted a tight race between Trump and Democratic challenger Kamala Harris.
As the Republican candidate's victory became clear, broader financial markets rallied on the "Trump trade" - spurred by his promises to boost the U.S. economy.
Crypto markets were similarly buoyed by his pledge to support cryptocurrencies, with the Bitcoin ETF seeing its largest daily inflow ever at $1.37 billion on Nov. 7, part of a six-day run of $4.7 billion in inflows into Bitcoin funds.
Meanwhile, the U.S. spot Ethereum ETF also saw its first net outflow since Trump’s victory, with $3.2 million in net outflows from the fund on November 14, according to Farside data.
That caps the nearly $800 million in inflows since Nov. 4, when ETH funds last saw outflows. ETH is down nearly 5% over the past 24 hours, trading below $3,100.
BlackRock’s iShares Ethereum Trust ETF (ETHA) saw $18.9 million in inflows, while Invesco’s ETH fund saw $0.9 million in inflows.
The Grayscale Ethereum Trust ETF saw the largest outflow of funds at $21.9 million.
