US-listed spot Bitcoin and Ether ETFs ended their outflow streaks on Wednesday, according to SoSoValue data. Bitcoin funds took in $74.6 million after three trading sessions of outflows totaling $1.16 billion. Ether funds took in $53 million after seven days of outflows totaling $657 million. Outflows from the IBIT Bitcoin fund continued despite the broader inflows.
Bitcoin rose above $80,000 and US stocks rallied following Democrats’ midterm election victories. CK Zheng of ZX Squared Capital pointed to liquidity, institutional flows and investors’ appetite for risk as more immediate drivers of Bitcoin’s price.
