Here's what happened to Bitcoin and Ethereum ETFs during the US election week: summary

In perhaps one of the most intriguing and important weeks for the United States, local investors showed uncertainty at first but eventually changed their sentiment towards bitcoin spot ETFs as the country elected a new president.

Even ethereum spot ETFs recorded some impressive net inflows by their own standards.

btc ETF during election week

All eyes in financial markets were on the US presidential election, which took place on Tuesday, with the results becoming official on Wednesday. Donald Trump, the self-proclaimed cryptocurrency candidate, won a decisive victory, which had an immediate and substantial impact on all financial markets, including cryptocurrencies.

US investors took a cautious approach towards the bitcoin ETF landscape as they ended the previous week with minor outflows, even though it was a very beneficial five-day trading period. The start of election week was quite painful, with more than $540 million withdrawn on Monday and $116.8 million withdrawn on Tuesday.

However, once the uncertainty over who will be the next president of the United States dissipated, investors made a 180-degree turn and began pouring funds into financial products. Wednesday's total net inflows were $621.9 million, a staggering $1,373.8 billion on Thursday, making it the best day in its 10-month history, and $293.4 million dollars on Friday. Thus, approximately $2.3 billion has been allocated to spot bitcoin ETFs since the election.

<blockquote class="twitter-tweet”>

$2.3 billion in spot btc ETF over the last 3 days…

Some people thought that btc spot ETFs would be lucky to receive $2 billion throughout the year.

2.3 billion dollars since the elections. https://t.co/QQJYTT6vld

– Nate Geraci (@NateGeraci) twitter.com/NateGeraci/status/1855087175500480922?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>November 9, 2024

In total, weekly net inflows amounted to $1,631.2 billion. bitcoin-etf-flow-all-data/” data-wpel-link=”external” target=”_blank”>according to Farside data. The price of btc attacked strongly in the same period, skyrocketing from less than $67,000 on Tuesday to almost $80,000 today.

eth ETFs Also Doing Good Numbers

Although demand and net inflows into ethereum ETFs are nowhere near those of bitcoin counterparts, some positive changes were still seen during the election week. After $63.2 million in net outflows on Monday, investors paused their interactions on Tuesday with nothing notable to report, but began injecting funds over the remaining three trading days.

father's side ethereum-etf-flow-all-data/” data-wpel-link=”external” target=”_blank”>sample $52.3 million allocated on Wednesday, $79.7 million on Thursday and $85.9 million on Friday. This means that total net inflows for the week amounted to $154.7, making it one of the best since the ETFs were created in late July.

eth price has gained 30% over the past week and reached $3,200 today after being on the sidelines for the past few months.

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