US-listed spot Bitcoin and Ether ETFs drew $128M combined on Wednesday, ending their outflow streaks as crypto rebounded after the midterm elections. BlackRock's IBIT recorded outflows for a fourth session, and analysts pointed to several drivers of Bitcoin's move.
US-listed spot Bitcoin ETFs and Ether exchange-traded funds snapped their outflow streaks on Wednesday as cryptocurrency markets rebounded following the US midterm elections. Bitcoin funds attracted $74.6 million, according to SoSoValue data. Ether funds added $53 million, per the same data.
The turnaround ended three consecutive trading sessions of Bitcoin ETF outflows totaling $1.16 billion. Ether ETFs also snapped a seven-day outflow streak of $657 million.
Meanwhile, Bitcoin rebounded above $80,000, and US stocks rallied after Democrats' midterm election victories on Wednesday.
Bitcoin ETFs recover, but IBIT outflows continue
The latest inflows followed a slowdown in withdrawals, from $399 million on Monday to $116 million on Tuesday.
However, BlackRock's iShares Bitcoin Trust (IBIT) recorded another $201.2 million in outflows on Wednesday, according to Farside Investors data. That extended its four-session outflow streak to $935.2 million. Fidelity's Wise Origin Bitcoin Fund (FBTC) led inflows with roughly $237 million.
Wednesday's inflows narrowed Bitcoin's 2026 net outflows to around $79 million.
Analysts weigh election impact on Bitcoin
James Butterfill, head of research at digital asset manager CoinShares, said Bitcoin had largely priced in the possibility of a Democratic sweep before the election, leaving room for a relief rally as uncertainty eased. He cautioned against attributing too much of Bitcoin's performance to the election outcome.
CK Zheng, co-founder of crypto hedge fund ZX Squared Capital, pointed to monetary liquidity, institutional investment flows and broader investor appetite for risk as more immediate drivers of Bitcoin's price. Zheng said spot Bitcoin ETFs and corporate treasury holdings could broaden demand while also exposing BTC to institutional selling pressure.
Source: Cointelegraph.com News
Trading involves risk.
Risk Disclaimer
