HODL

Spot

BlackRock

Spot Bitcoin exchange-traded funds in the U.S. recorded their second-highest net outflows on Monday, Nov. 4. 
According to <a href="https://farside.co.uk/btc/" target="_blank" rel="nofollow">data</a> provided by Farside Investors, the U.S.-based spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) ETFs saw a net outflow of $541.1 million yesterday. This is the second-largest outflow since May 1’s $563.7 million. 
Here’s a quick recap of the outflows:&nbsp; 
<ul class="wp-block-list"> 
 <li>Fidelity’s FBTC and ARK 21Shares’ ARKB recorded triple-digit outflows, worth $169.6 million and $138.3 million, respectively.</li> 
 <li>Outflows from both Grayscale funds, GBTC and BTC, were $89.5 million and $63.7 million, respectively.&nbsp;</li> 
 <li>Bitwise’s BITB, Franklin Templeton’s EZBC and VanEck’s HODL funds registered $79.8 million, $17.6 million and $15.3 million in outflows, respectively.</li> 
 <li>Valkyrie’s BRRR ETF also saw $5.7 million in outflows.</li> 
</ul> 
 You might also like: <a rel="" href="https://crypto.news/from-hype-to-reality-what-meme-coin-presales-reveal-about-trump-and-harris/"> From hype to reality: what meme coin presales reveal about Trump and Harris </a> 
Despite the dominating fear, uncertainty, and doubt, the BlackRock BITB fund witnessed a net inflow of $38.4 million. Since its launch in January, BITB has recorded only five days of outflows, with the largest outflow being $36.9 million six months ago, when the investment products saw their biggest outflows. 
The dominating bearish sentiment could be due to the investors’ cautious approach to the U.S. <a href="https://crypto.news/donald-trump-polymarket-weakens-bitcoin-drops-to-68000/" target="_blank">presidential elections</a>—scheduled for today. 
As <a href="https://crypto.news/bitcoin-etfs-record-total-daily-outflow-of-54-94-million-as-btc-hovers-at-69000/" target="_blank">ETF outflows</a> continued for the second consecutive day, Bitcoin dropped 1% in the past 24 hours and is trading at $68,300 at the time of writing. 
According to data from Farside Investors, the U.S.-based spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>) ETFs also saw a net outflow of $63.2 million on Monday.&nbsp; 
ETH saw a 1.6% <a href="https://crypto.news/bitcoin-ethereum-fall-whales-panic-as-market-corrects/" target="_blank">fall</a> and is changing hands just above the $2,400 mark at the reporting time. 
The fall of the two leading cryptocurrencies triggered market-wide FUD. According to CoinGecko <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="nofollow">data</a>, the global crypto market capitalization plunged by 2.5% over the past day, reaching $2.38 trillion—wiping $33 billion off the market. 
 Read more: <a rel="" href="https://crypto.news/u-s-votes-bitcoin-flirts-with-70k-which-way-break/"> As U.S. votes, Bitcoin flirts with $70k — which way will it break? </a>

BTC ETFs recorded second-largest outflows amid market-wide FUD

crypto.news

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