US Bitcoin ETFs experienced the second-largest daily outflow in history, totaling $541.1 million on November 4. This massive withdrawal occurred amid a decrease in Bitcoin's price, dropping below $70,000.
Despite the overall outflow, BlackRock's IBIT was an exception, recording a positive inflow of $38.4 million. Conversely, Fidelity's fund saw the most substantial outflow at $169.6 million, with ARK 21Shares following close behind with $138.3 million.
These financial movements happened against the backdrop of the upcoming United States presidential election and a Federal Reserve meeting, indicating heightened market uncertainty and investor caution.