Author: Jesse Coghlan, CoinTelegraph; Compiled by Wuzhu, Jinse Finance
On Thursday, US spot Bit and ETH exchange-traded funds (ETFs) ended a series of inflows since Donald Trump was elected president on November 5.
Data from Farside Investors shows that 11 ETFs had a total net outflow of $400.7 million on November 14, as Bit fell on that day, down 2% in the past 24 hours to $88,200.
The only two funds that saw positive inflows were BlackRock's iShares Bit Trust ETF (IBIT), which had a net inflow of $126.5 million, and a small $2.5 million inflow into the VanEck Bit ETF (HODL).
Fidelity's ETF had the largest net outflow of $179.2 million, followed by $161.7 million from the joint ARK and 21Shares ETF, and $113.9 million from the Bitwise fund. Grayscale's ETF and mini ETF had a combined outflow of $74.9 million.
This is the first time since Trump won the presidential election on November 5 that ETFs have seen outflows. Trump's victory sparked a major cryptocurrency rally, with Bit soaring about 30% to nearly $93,500 by November 13.
Bit has rebounded from around $68,000 on November 5 to over $93,000, breaking new highs in the process. Source: TradingView
ETFs last saw a combined outflow of $116.8 million on election day, when there was uncertainty about who would become president, with polls predicting a tight race between Trump and Democratic challenger Kamala Harris.
As the Republican candidate's victory became clearer, the broader financial markets rallied on the "Trump trade" - buoyed by his promises to boost the US economy.
The cryptocurrency market was also boosted by his support for cryptocurrencies, with Bit ETFs seeing their largest single-day inflow of $1.37 billion on November 7, part of a six-day streak that saw $4.7 billion flow into Bit funds.
Meanwhile, the US spot ETH ETF also saw its first net outflow since Trump's victory, with $3.2 million flowing out of the fund on November 14, according to Farside data.
This is the ceiling of nearly $800 million in inflows since November 4, when the ETH fund last saw outflows. ETH has fallen nearly 5% in the past 24 hours, trading below $3,100.
BlackRock's iShares ETH Trust ETF (ETHA) saw $189 million in inflows, while Invesco's ETH fund saw $900,000 in inflows.
The Grayscale ETH Trust ETF had the largest outflow at $219 million.
