Significant Outflows Hit Bitcoin ETFs Ahead of U.S. Election

In the lead-up to a closely watched election, Bitcoin exchange-traded funds (ETFs) in the U.S. experienced their second-largest outflow on record.

On November 4, the 11 spot Bitcoin ETFs faced a net outflow of $541.1 million, with only BlackRock’s iShares Bitcoin Trust ETF (IBIT) recording positive inflows of $38.4 million. This drop in capital follows only the record outflow of $563.7 million on May 1, when Bitcoin plummeted 10.7% to around $60,000.

Traders have been reducing their Bitcoin positions, resulting in a 4.6% decline over the past week, with Bitcoin trading near $68,000, down 1.7% in the last 24 hours. The Fidelity Wise Origin Bitcoin Fund led the outflows on November 4 with $169.6 million, followed closely by the ARK 21Shares Bitcoin ETF, which lost $138.3 million.

The Grayscale Bitcoin Trust (GBTC) also experienced significant outflows, totaling $63.7 million, while its mini counterpart saw $89.5 million withdrawn.

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The week concluding on November 1 had previously seen $2.2 billion in net inflows into U.S. Bitcoin funds, despite a minor outflow of nearly $55 million to wrap up the week.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.