- Bitcoin and Ethereum ETFs saw outflows for the first time after Trump’s victory.
- Despite the recent outflows, analysts predicted potential price increases for Ethereum and Bitcoin ETFs.
Donald Trump’s victory as the 47th President of the United States led to a significant rise in the cryptocurrency market, with Bitcoin [BTC] surpassing its previous all-time highs and altcoins followed suit.
This bullish momentum was accompanied by a wave of investments in Bitcoin and Ethereum [ETH] Exchange Traded Funds (ETFs), reflecting growing investor confidence.
Ethereum and Bitcoin ETF update
From November 5 to 13, Ethereum ETFs saw a substantial inflow of $796.2 million. Bitcoin ETFs between November 6 and 13, they had an even higher inflow of $4.73 billion, highlighting the increasing interest in digital assets.
However, on November 14, data from Farside Investors revealed that Bitcoin ETFs saw net outflows of $400.7 million among eleven funds. This coincided with a 2% decline Bitcoin’s pricewhich amounted to $89,164.
Similarly, Ethereum ETFs faced outflows totaling $3.2 million as Ethereum’s price fell 2.89%. trade on $3,099, at the time of writing.
This decline in both Bitcoin and Ethereum prices reflected the outflow of ETF investments, signaling a brief shift in market sentiment.
Among Bitcoin ETFs, only BlackRock’s IBIT and VanEck’s HODL saw positive inflows, attracting $126.5 million and $2.5 million, respectively.
Meanwhile, other Bitcoin ETFs, including Fidelity’s FBTC and Ark’s 21Shares ARKB, experienced significant outflows of $179.2 million and $161.7 million. Several other funds recorded minimal or zero flows.
On the Ethereum ETF side, BlackRock’s ETHA recorded inflows of $18.9 million, and Invesco’s QETH recorded modest inflows of $0.9 million.
However, most Ethereum ETFs saw no movement, with Grayscale’s ETHE suffering the largest outflows at $21.9 million.
Optimism surrounds ETFs
Despite the recent recession, the cryptocurrency community remained optimistic, with no negative feedback on Bitcoin or Ethereum ETFs.
Discussions have emerged about Bitcoin ETFs potentially surpassing the holdings of Bitcoin creator Satoshi Nakamoto.
According to Bloomberg analysts Shaun Edmondson and Eric Balchunas, U.S. spot Bitcoin ETFs have accumulated about 1.04 million BTC, which is close to Satoshi’s estimated holdings of 1.1 million BTC.
Additional, Bankless co-founder Ryan Sean Adams noted that while Ethereum ETFs had experienced significant outflows, this dynamic could change as inflows start to turn positive.
Adams believes this shift could be a major catalyst and predicts it could pave the way for a surge in Ethereum’s price, potentially reaching $10,000.
He said it best when he said that ETH ETF is a
“Prescription for an ETH rocket to $10k.”