Spot Bitcoin ETFs see $438m in outflows – the biggest since the US election
Bitcoin exchange-traded funds (ETFs) from the United States-based space rose to $438.37 million on Nov. 25.
The sharp reversal followed strong inflows earlier in November, including a net inflow of $1 billion per day on November 21, according to data from crypto-tracking platform Sosovalue. However, recent statistics indicate a change in market sentiment.
The spot bitcoin (BTC) ETF saw a net inflow of $30.4 billion as of Nov. 25, driven by institutional interest, according to the crypto-tracking platform.
As a gateway to institutional and retail investments in cryptocurrencies such as BTC, the flow and migration of ETFs—especially Bitcoin ETFs—affects the liquidity and stability of BTC and the broader crypto market.
Spot Bitcoin ETFs as of November 25. Source: Sosovalue
Related: Bitcoin's $93K Dip May Be ‘Last Flow' Before Rush: Analysts
The biggest outflow since Trump won
The outflow of $438.37 million represents a sharp turnaround from the positive trend following the re-election of Donald Trump, which has fueled optimism in the crypto industry.
After the election results, the price of BTC rose to a new high of $99,655 on November 22, which fell to $92,000 from the peak of November 25 – a loss of more than 7% as profit-taking occurred.
The BTC price on the one-day chart has seen its assets fall to around $92,000. Source: CoinMarketCap
Related: Even if Trump Wins, Coin Center Warns U.S. Policies Could Scare Crypto Investors
The total Bitcoin ETF is worth $5 billion.
Total net assets under management for spot Bitcoin ETFs fell to $102.23 billion from a peak of $107.49 billion on Nov. 22.
Despite the drop to $92,000 and the resulting decline, the share of BTC held by ETFs is still significant, with institutions accounting for more than 5% of the crypto market capitalization.
Total Space Bitcoin ETFs Net Income and Historical Data. Source: Sosovalue
RELATED: Bitcoin ETFs Set New Record in Weekly Revenue of Over $3.1B
Spot Bitcoin ETFs set a new revenue record
In the year US-based spot Bitcoin ETFs saw net inflows of $3.38 billion on November 18-22, according to SosoValue data — a 102% increase from the previous week's net inflow of $1.67 billion.
The record high marks the largest weekly net inflows for spot Bitcoin ETFs and marks the seventh consecutive positive inflows – inflows exceeding outflows.
Although the year Despite the volatility through Nov. 25, BlackRock's iShares Bitcoin Trust continues to lead the way with $47.03 billion in net assets and $31.6 billion in total revenue.
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