BlackRock Bitcoin ETF Sees Outflows as U.S. Election Results Fuel Market Volatility
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 This was the ETF’s first outflow since October 10, when $10.8 million was withdrawn.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.
READ MORE:
Crypto Markets Surge After Donald Trump Wins U.S. ElectionHenrik 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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ripple CEO Reveals the Truth About the Amount of XRP on the Company's Balance Sheet
Tether to Build 70-Story Skyscraper in El Salvador, Symbol of Prosperity
Tech giants bounce back after AI disruption, S&P 500 nears record high
Share link:In this post: Last week, the largest tech firms in the US experienced huge challenges from Chinese AI, DeepSeek. Apple and Meta reported positive results, boosting the S&P 500. The Magnificent Seven’s price-to-earnings ratio is now 31.
OpenAI launches o3-Mini as it fights back against DeepSeek
Share link:In this post: OpenAI has launched its o3-Mini AI model to fight back against DeepSeek’s latest model. The company mentioned in its blog post that the o3-Mini is the most cost-efficient model in their reasoning series. DeepSeek’s breakthrough caused a $1 trillion tech selloff while putting pressure on AI chip makers.