Bitcoin ETFs Return to Inflows as Crypto Rules Face Delays

The net inflow reversed about $1.16 billion in withdrawals over the previous three sessions, according to Farside Investors. Ryan Kirkley, co-founder and CEO of Global Settlement Network, called the return of capital encouraging but cautioned that one day does not show whether selling has ended. He viewed the contrasting fund flows as investors adjusting exposure rather than returning across the board.

Kirkley said institutional decisions remain tied to liquidity, monetary policy and portfolio allocation, not solely to election results. Bitcoin climbed above $77,000 on Nov. 4 after nearing $75,700 during the vote count. He said the following weeks would provide a clearer test of whether demand was recovering consistently.

Dan Khus, chief analyst at LVRG Research, warned that a Democratic-controlled Congress and Republican presidency could increase uncertainty around crypto rules and fiscal priorities, potentially weighing on Bitcoin in the near term. Kirkley singled out the CLARITY Act, whose progress had already been slowed by disputes over regulatory jurisdiction, stablecoin rewards and how different digital assets should be treated.

The House passed the bill 294-134 on July 17, 2025, with 78 Democrats joining Republicans, according to the official voting record. Kirkley said he would prefer slower negotiations that produce rules workable across administrations to legislation rushed through and followed by further uncertainty. For banks and other financial institutions, he said, clearer requirements are needed for custody, payments, settlement and compliance.

Kirkley expects institutional focus through 2027 to include payments, stablecoins and settlement, including solutions to costly international transfers, fragmented systems and capital tied up in existing processes. He also warned that custody systems can remain vulnerable to compromised credentials, excessive internal permissions or connected applications. Khus said longer-term Bitcoin performance would depend more on macroeconomic conditions and institutional flows than on a single party’s election outcome.