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Bitcoin, Ether ETFs post $530M outflows as election gains evaporate
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US spot Bitcoin and Ether ETFs posted about $530 million in net outflows Thursday as Bitcoin fell below $76,000 and US stocks tumbled. Bitcoin ETFs lost $430 million; Ether funds shed $100 million, per SoSoValue. The reversal erased election-driven gains from Wednesday, when combined inflows reached $128 million and Bitcoin briefly topped $80,000 after Democratsâ midterm victories.
Fidelity Wise Origin Bitcoin Fund led withdrawals with roughly $200 million after attracting about $237 million Wednesday, Farside data show. BlackRock iShares Bitcoin Trust added $105 million in net outflows, extending a five-session streak. More than $1 billion has left IBIT since Oct. 30, with Bitcoin ETF year-to-date net outflows around $510 million after Thursday.
Market backdrop: Bitcoin fell below $76,000 and the Nasdaq Composite plunged 5.5%, its biggest single-day decline since April 2025, Reuters reported. The sell-off underscored how quickly crypto and tech stocks reversed post-election optimism. Ether ETFs also suffered, losing about $100 million.
Analyst Michaël van de Poppe said Bitcoin could find a near-term bottom Friday, potentially after dipping below $75,000, citing Nasdaq severity. He expects Nasdaq to bottom Friday and Bitcoin similarly after sweeping $75,000. The forecast suggests traders are watching for stabilization after sharp losses.
Dean Lyulkin, CEO of Cardiff and founder of The Deanâs List, said the current environment differs from the 2008 crisis. âThe global financial crisis wasnât caused by Democrats taking Congress,â he said, noting the Fed had raised rates and housing weakened before the crisis. He acknowledged vulnerabilities in commercial real estate, private credit and AI spending but argued household balance sheets and the banking system are stronger today.
The outflows highlight ETF flowsâ sensitivity to macro and political sentiment, with investors quickly pulling back from crypto funds as equities fell. With Bitcoin below $76,000 and IBIT outflows persistent, near-term direction may depend on whether US tech stocks stabilize. Market participants will watch Fridayâs trading for signs of a bottom.
