Bitcoin Exchange-Traded Funds (ETFs) in the United States saw a massive withdrawal of $541 million. This marks the second-largest single-day outflow recorded in their history.
The outflow occurred in the context of mounting uncertainty surrounding the upcoming presidential election. Investors seem to be cautious, possibly reallocating their funds amidst the volatile economic environment linked to the election.
The significant outflow highlights the sensitivity of financial products like Bitcoin ETFs to geopolitical factors and market sentiment.