Spot Bitcoin ETFs See $401M Outflow, Breaking Six-Day Inflow Streak
2024-11-15

Spot Bitcoin exchange-traded funds (ETFs) experienced a sharp reversal on November 14, posting a combined net outflow of $400.7 million.
The reversal marks the end of a six-day inflow streak fueled by a bullish rally in the crypto market following Donald Trump’s presidential election victory on November 5.
According to , Fidelity’s Bitcoin ETF bore the brunt of the outflows, recording a $179.2 million net withdrawal.More Funds See Outflows
Other significant outflows included $161.7 million from the ARK and 21Shares joint ETF and $113.9 million from Bitwise’s fund.
Grayscale’s ETF products collectively saw $74.9 million leave the funds.
In contrast, BlackRock’s iShares Bitcoin Trust ETF (IBIT) managed to attract $126.5 million in net inflows, while the VanEck Bitcoin ETF (HODL) reported a modest $2.5 million inflow.
The outflows come after an election-induced rally that propelled Bitcoin’s price by approximately 30%.
This surge was driven by market optimism surrounding Trump’s pro-crypto policies and promises to stimulate economic growth.
The rally had previously resulted in record-breaking inflows, with Bitcoin ETFs amassing $1.37 billion on November 7 alone.
Notably, the Bitcoin price also saw a slight dip on Thursday.
The cryptocurrency dropped by 2% over the past 24 hours, trading at $88,200 after peaking at nearly $93,500 earlier in the week.
Meanwhile, Ethereum ETFs also joined the reversal trend, witnessing a combined $3.2 million net outflow on the same day.
Bitcoin Spot ETFs Saw $400.67 million in net outflows on November 14, and Ethereum ETFs recorded $3.2 million outflows.👀 — Crypto Crib (@Crypto_Crib_) 
This marks their first outflow since November 4, halting a nearly $800 million inflow streak. Ethereum’s price followed suit, declining by nearly 5% to trade below $3,100.
Grayscale’s Ethereum ETF recorded the largest outflow at $21.9 million, offsetting inflows of $18.9 million into BlackRock’s iShares Ethereum Trust ETF and $900,000 into Invesco’s ETH fund.
Last week, digital asset investment products attracted a robust $1.98 billion, marking the fifth consecutive week of inflows.
The influx brings the year-to-date figure to a record $31.3 billion, according to a recent report from CoinShares.
The surge in investments has pushed the global assets under management to a new peak of $116 billion.
Bitcoin led the charge with inflows totaling $1.8 billion, buoyed by a favorable macroeconomic environment and recent US political shifts.Crypto Market Cap Soars to $3.2 Trillion
The global cryptocurrency market has reached a record valuation of $3.2 trillion, driven by the recent election of Donald Trump as U.S. president and expectations of more favorable regulations.
The milestone comes as Bitcoin achieved a new all-time high of $93,480, doubling its value this year and increasing by 30% since the U.S. election.
Other cryptocurrencies, including Ether and Dogecoin, have also experienced substantial gains.
The renewed enthusiasm in the crypto market is partly attributed to the election of pro-crypto lawmakers and signals from financial institutions investing through crypto exchange-traded funds.
Despite Bitcoin’s strong performance, some analysts are predicting potential short-term corrections.
Ruslan Lienkha, Chief of Markets at YouHodler, estimates that Bitcoin may experience a dip to the $75,000–$80,000 range before resuming its upward trajectory.