Bitcoin, Ethereum ETFs Record Over $600 Million Net Outflows Ahead Of Election Day
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) spot exchange-traded funds (ETFs) experienced substantial net outflows on Nov. 4, with the former seeing a record $541 million outflow, marking the second-largest single-day outflow in history.
The only higher single-day outflow was recorded on May 2, when $563 million exited Bitcoin ETFs.
Ethereum ETFs also faced significant withdrawals, with $63.2 million in net outflows, indicating a cautious market stance ahead of the U.S. presidential election.
What Happened: Data from SoSo Value shows that among Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) saw inflows of $38.4 million, offering a bright spot in an otherwise bearish day.
In contrast, other funds witnessed substantial outflows, including Fidelity‘s (CBOE: FBTC), with a $169.6 million exit, and Ark Invest‘s (CBOE: ARKB), which saw outflows of $138.2 million.
Ethereum ETFs followed a similar pattern of net outflows.
BlackRock‘s (NASDAQ:ETHA) registered the only significant inflow, adding $11 million, data
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