Here’s What Happened to Bitcoin and Ethereum ETFs During US Election Week: Summary

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

Even spot Ethereum ETFs saw impressive net inflows by their own standards.

BTC ETF during election week

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

US investors took a cautious approach to the Bitcoin ETF landscape as they ended the previous week with smaller outflows, despite it being a very profitable five-day trading period. The start of the election week was quite painful, with more than $540 million withdrawn on Monday and $116.8 million withdrawn on Tuesday.

However, once the uncertainty about who will be the next US president was cleared, investors did a 180 and started pouring funds into financial products. Wednesday’s total net receipts were $621.9 million, a staggering $1,373.8 million on Thursday, making it the best day in its 10-month history, and $293.4 million of dollars on Friday. So roughly $2.3 billion was allocated to one-time Bitcoin ETFs since the election.

$2.3M in spot btc ETFs in last 3 days…

Some people thought that btc ETFs would be lucky to take in $2 billion for the entire year.

$2.3 million since the election. https://t.co/QQJYTT6vld

— Nate Geraci (@NateGeraci) November 9, 2024

Overall, weekly net receipts totaled $1.631 billion, according to Farside data. BTC price was on the offensive during the same period, soaring from under $67,000 on Tuesday to nearly $80,000 today.

ETH ETFs are also seeing good numbers

While the demand and net inflows of Ethereum ETFs do not come close to that of their Bitcoin counterparts, they still saw some positive changes during election week. After $63.2 million in net outflows on Monday, investors halted their interactions on Tuesday with nothing of note to report, but began to pour in funds during the remaining three trading days.

Farside shows $52.3 million allocated on Wednesday, $79.7 million on Thursday and $85.9 million on Friday. That means total net inflows for the week came in at $154.7, making it one of the best since the ETF’s inception in late July.

The price of ETH has gained 30% over the past week and hit $3,200 today after being on the sidelines for the past few months.

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