Massive Bitcoin Fund Outflows Reflect Investor Caution

Data from SoSoValue revealed that exchange-traded funds (ETFs) saw their second-highest daily outflow on Monday, November 4, aligning with the onset of the U.S. presidential elections.

According to the report, Bitcoin-focused funds experienced a substantial outflow of approximately $541.1 million, signaling a marked increase in investor caution as Americans prepared to cast their votes. This significant outflow highlights investor concerns regarding the potential implications of the election outcomes on the market.

This recent outflow represents the largest since May 1, when ETFs saw outflows of $563.7 million amid a simultaneous decline in Bitcoin prices.

Among the hardest-hit funds, Fidelity’s Bitcoin fund (FBTC) reported outflows of $169.6 million, followed closely by the ARKB fund from Ark Invest, which registered losses of $138.3 million. Grayscale's Bitcoin funds also recorded combined outflows totaling $153.2 million, with the GBTC fund losing $63.7 million and an additional GBTC fund down by $89.5 million.

In a notable deviation from the trend, BlackRock’s IBIT fund attracted net inflows of $38.4 million, demonstrating resilience while most other Bitcoin funds experienced significant outflows.

Read more:

Bitcoin Bulls Maintain Their Positions and Positive Predictions After the U.S. Elections

MicroStrategy Reveals Ambitious Plan to Raise $21 Billion to Buy Bitcoin

Record Inflows into the IBIT Fund from BlackRock Despite Bitcoin's Decline!