US Bitcoin ETF sees second-largest daily outflows on election eve

A U.S.-based Bitcoin exchange-traded fund (ETF) recorded its second-largest single-day outflows in history, one day before the election.
On the 5th (local time), 11 Bitcoin ETFs recorded a net outflow of $541.1 million (approximately 82.4 billion yen) on the 4th.
BlackRock's iShares Bitcoin Trust ETF (iShares Bitcoin Trust
ETF IBIT) alone secured inflows of $38.4 million, according to CoinGlass.
This was the biggest day of outflows since May 1, when Bitcoin fell 10.7% in a week, dropping to as low as $60,000.
F recorded outflows of $563.7 million. Bitcoin investors are reducing their exposure to Bitcoin ahead of the U.S. election on the 5th.
Fidelity Wise Origin Bitcoin Fund
The ARK 21Shares Bitcoin Fund recorded an outflow of $169.6 million on November 4, followed by the ARK 21Shares Bitcoin Fund.
$138.3 million flowed out of the ETF. Grayscale's two Bitcoin funds saw a combined $153.2 million in outflows.
Grayscale Bitcoin Trust (GBTC) recorded net inflows in just a few days this year, with $63.7 million in outflows and a record 1.2% outflow.
GBTC recorded a withdrawal of $89.5 million, the fifth and third largest withdrawals of the day, respectively.
In the trading week that ended on Friday, November 1, a total of $2.2 billion (roughly $3.2 billion) was invested in U.S. Bitcoin funds.
There was a net inflow of $35 billion, with outflows of about $55 million on the final day of the week.
"Most of the influx this week is due to expectations of a possible Republican victory," Butterfill said, "with a smaller exodus on Friday as poll results changed."
"This shows just how sensitive Bitcoin is to the US elections right now," he added.