Spot Bitcoin (BTC) ETFs saw their highest single-day outflow since the US election on Nov. 25.
According to SoSoValue data, total withdrawals from these Bitcoin funds were $438.38 million. This dramatic reversal follows a record $1 billion daily inflows on Nov. 21.
The significant withdrawals are proof of a rapid change in investor bias following weeks of record inflows.
US Spot Bitcoin ETFs Net Flows, Nov. 25. | Source: SoSoValue
Despite the withdrawals, these Bitcoin ETFs still maintained $30.4 billion in cumulative inflows. The inflows and outflows from these ETFs impact Bitcoin’s liquidity and market stability.
This outflow coincides with BTC’s declining price from a recent high of $99,655 on Nov. 22 to $92,272 at the time of writing. It also coincides with a 5.54% drop in the cryptocurrency’s market cap in the last twenty-four hours.
Bitcoin ETFs’ AUM Drop $5.26 Billion
Over the past three days, the overall assets under management (AUM) for spot Bitcoin ETFs decreased from $107.49 billion to $102.23 billion, a drop of $5.26 billion. Notwithstanding, institutional investors still hold more than 5% of the crypto market’s overall evaluation, indicating that Bitcoin ETFs still significantly impact the market.
With $47.03 billion in assets and cumulative net inflows of $31.6 billion, BlackRock’s iShares Bitcoin Trust (IBIT) remains a leading force in the Bitcoin ETF space.
Ethereum ETFs Experience Drop in Inflows
Meanwhile, the nine-spot Ethereum (ETH) ETFs noted cumulative inflows of $2.83 million on Nov. 25, a significant drop from the $91.21 million they recorded the day before. Bitwise’s ETHW and Fidelity’s FESH generated the largest inflows at $8.75 million and $4.36 million, respectively.
Grayscale’s ETHE saw the most single-day withdrawals at $7.65 million. Other Ether funds with outflows were Grayscale Ethereum Mini Trust and 21Shares CETH, while Invesco, Franklin, and BlackRock’s Ether funds didn’t record any inflows or outflows.
The performance of the Ether funds hasn’t impacted ETH’s price. According to CoinMarketCap data, ETH currently trades at $3,314, down 4.48% in the past 24 hours.
ETH’s 24-hour Price Chart. | Source: CoinMarketCap