BlackRock's spot Bitcoin ETF experienced a significant outflow of $44.2 million on November 5, marking its sixth day of net withdrawals since its debut in January.
The outflow came as institutional investors appeared to adopt a risk-averse strategy following the U.S. election. This was the ETF’s first outflow since October 10, when $10.8 million was withdrawn.
The broader trend saw U.S. spot Bitcoin ETFs collectively lose $116.8 million, with the Fidelity Wise Origin Bitcoin Fund leading the losses at $68.2 million. In contrast, the Bitwise Bitcoin ETF was the only one to post an inflow, attracting $19.3 million.
This marks the third consecutive day of outflows for the U.S. Bitcoin ETFs, which had already faced their second-largest outflow day on November 4, totaling $541.1 million. However, as election results emerged, Bitcoin surged, reaching an all-time high of $75,000.
Henrik Andersson, CIO of Apollo Crypto, suggested that Bitcoin’s recent performance mirrored expectations of a potential Trump victory, predicting a rise to $100,000 by year’s end if Trump secures the win. Meanwhile, ETF Store’s Nate Geraci emphasized that while the election’s impact on investments is often exaggerated, regulatory changes – particularly in SEC leadership – could significantly shape the future of crypto ETFs.
According to new data shared by Bitcoin Magazine Pro, publicly traded companies now collectively hold over 844,822 BTC, valued at more than $100.5 billion, marking a historic milestone for institutional Bitcoin adoption.
Trump Media and Technology Group, the parent company of Truth Social, Truth+, and Truth.Fi, has officially disclosed that it now holds approximately $2 billion in Bitcoin and Bitcoin-related securities.
Michael Saylor’s Strategy has confirmed another major Bitcoin purchase, acquiring 6,220 BTC last week for approximately $739.8 million.
Bitcoin’s derivatives market is heating up, with open interest climbing back to $42 billion while funding rates continue to surge.