US-listed spot Bitcoin and Ether exchange-traded funds (ETFs) snapped their outflow streaks on Wednesday as cryptocurrency markets rebounded following the US midterm elections.
Bitcoin (BTC) ETFs attracted $74.6 million on Wednesday, while Ether (ETH) funds added $53 million, according to SoSoValue data.
The turnaround ended three consecutive trading sessions of Bitcoin ETF outflows totaling $1.16 billion, while Ether ETFs snapped a seven-day outflow streak of $657 million.
Bitcoin rebounded above $80,000 and US stocks rallied following Democrats’ midterm election victories on Wednesday.
Bitcoin ETFs recover, but IBIT outflows continue
The latest batch of inflows followed a slowdown in withdrawals, from $399 million on Monday to $116 million on Tuesday.
Blackrock’s iShares Bitcoin Trust (IBIT) recorded another $201.2 million in outflows on Wednesday, extending its four-session outflow streak to $935.2 million, according to Farside…
