Bitcoin, Ether ETFs attract $128 million as post-midterm rally lifts crypto

US-listed spot Bitcoin and Ether exchange-traded funds attracted about $128 million in combined net inflows on Wednesday, reversing recent withdrawals as cryptocurrency markets rebounded after the US midterm elections. The recovery offered a positive signal for fund demand, although buying remained uneven across issuers, according to Cointelegraph.

Bitcoin funds received $74.6 million and Ether products collected $53 million, the publication reported, citing SoSoValue. Those gains ended three consecutive sessions of Bitcoin fund withdrawals and seven sessions of outflows from Ether products. Both categories therefore returned to positive territory together, without establishing a sustained recovery.

Fidelity’s Bitcoin fund led the buying with approximately $237 million in inflows. BlackRock’s IBIT moved in the opposite direction, losing $201.2 million in its fourth consecutive session of withdrawals, according to Farside Investors figures cited in the report. That divergence was the clearest qualification to the positive aggregate result.

The distinction matters because a category-wide total measures the balance between subscriptions and redemptions, rather than uniform demand for every product. A positive reading can coexist with substantial selling at an individual fund. Wednesday’s figures consequently support a narrower conclusion: buying outweighed withdrawals overall, but the pressure to exit had not disappeared.

The return to inflows accompanied a rebound in cryptocurrency prices following the election. However, the timing alone does not establish that the political outcome caused investors to add ETF exposure. Fund flows and market prices provide different perspectives on demand, and neither explains investors’ individual motivations.

CoinShares research head James Butterfill told Cointelegraph that markets had already anticipated the possibility of a Democratic sweep, allowing uncertainty to ease afterward. His assessment framed the rebound as a potential relief move rather than a straightforward endorsement of the election result. He cautioned against assigning the political outcome too much explanatory weight.

That distinction is important when assessing whether the recovery can continue. An easing of event-related uncertainty can support prices without resolving the wider conditions influencing investment decisions. A subsequent session of withdrawals would not necessarily contradict a relief rally, just as one positive session cannot confirm a lasting change in allocation.

For ETF demand, the next meaningful test is persistence and breadth. Repeated positive totals would provide stronger evidence of renewed buying than a single reversal, while participation across more products would make the improvement less dependent on a small number of funds. Neither outcome is established by Wednesday’s figures alone.

The immediate picture is therefore one of recovery with qualifications, rather than an across-the-board return of confidence. Subsequent flow reports will show whether Fidelity’s buying momentum continues and whether IBIT’s withdrawal streak ends. Those developments will help distinguish a temporary post-election rebound from a more durable improvement in demand.