On November 4, Bitcoin ETFs witnessed a substantial withdrawal of $541 million, marking it as the second-largest outflow day in their history. The market uncertainty triggered by the upcoming U.S. election played a significant role in these withdrawals.
Fidelity's FBTC was notably affected, experiencing a $170 million loss, highlighting investor hesitancy during volatile economic periods.
This episode emphasizes the sensitivity of Bitcoin ETFs to geopolitical and economic factors, especially in situations involving major political events such as the U.S. election.
