Trump Bump Fizzles? Crypto ETFs See Red!

Spot crypto ETFs in the US saw outflows for the first time since Donald Trump was elected president.

November 15, 2024

Discover Seedkeeper, an advanced seedphrase and password manager that ensures top-tier security using a NFC smartcard with an EAL6+ certified chip, trusted for secure data storage. 

Fully open source, Seedkeeper guarantees transparency and trustworthiness, empowering users to safeguard their secrets.

Here's what we've got for you today:

  • Trump Trade Over? Bitcoin, Ethereum ETFs See First Outflow Since Election

  • Bitcoin’s November History Signals Path to $100K

  • 18 US States File Lawsuit Against SEC and Gary Gensler

  • Trump’s World Liberty Financial Taps Chainlink for Reliable Data

Spot crypto ETFs in the U.S. saw outflows for the first time since Donald Trump was elected.

  • A combined $400.7 million in net outflows was recorded across the11 Bitcoin ETFs on Nov. 14. This coincided with Bitcoin's 2+% price drop to around $88,200.

  • Only two ETFs posted inflows on the day. BlackRock’s iShares Bitcoin Trust ETF (IBIT) posted $126.5 million in net inflows, while VanEck’s Bitcoin ETF (HODL) saw minor inflows of $2.5 million.

  • U.S. spot Ether ETFs also experienced their first net outflows since Trump’s win. According to Farside data, $3.2 million flowed out of these funds on Nov. 14.

Bitcoin’s journey to $100,000 seems increasingly likely after it surpassed $90,000.

  • On Nov. 13, Bitcoin broke its previous ATH by surging past $90,000. This means that BTC has a year-to-date price increase of over 100%.

  • November is historically considered to be a favorable month for Bitcoin, and its price has already seen a 25% surge. Ryan Lee shared that BTC only needs an additional 14.7% gain to propel it beyond $100,000.

  • The fact that BTC is in a post-halving cycle and the current market momentum suggests that there is still a lot of room for Bitcoin to grow.

The lawsuit against the SEC and Gensler accuses the financial regulator of “gross government overreach” against the crypto industry.

  • States including Nebraska, Tennessee, Wyoming, and others joined forces to challenge the Securities and Exchange Commission’s (SEC) approach to crypto regulation.

  • According to the Blockchain Association, crypto firms have spent close to $426 million on litigation against the SEC since 2021.

  • Several executives in the crypto industry consider the SEC’s lack of a clear and coherent digital asset policy as a major obstacle for developers operating in the U.S.

World Liberty Financial has partnered with Chainlink to integrate real-time data feeds.

  • World Liberty Financial revealed in its official announcement that the platform will use Chainlink's oracle technology, built on an Aave v3 instance, to provide reliable, real-time market data for its users.

  • Chainlink’s tamper-resistant, decentralized price feeds address the critical need for transparent and secure price information in the decentralized finance sector.

  • The integration with World Liberty Financial is another big achievement for Chainlink as it has become a leading oracle provider in the DeFi ecosystem.

👀 QUICK NEWS

MEME OF THE DAY

How did you like today's newsletter?

Login or Subscribe to participate in polls.

That’s it for today. Don’t forget to share Coinpaper Digest with your friends!