Donald Trump

<ul class="wp-block-list">
 <li>BlackRock’s iShares Bitcoin Trust ETF (IBIT) is the only one to witness an inflow of about $38.4 million.</li>
 <li>Bitcoin is very sensitive to the US elections in the current scenario.</li>
 <li>The crypto industry still wants Donald Trump to win as he has so far declared a crypto-friendly leader. Many market members have anticipated that Bitcoin can surpass $100,000 after the victory of Trump.</li>
</ul>
An outstanding milestone has been achieved by recording the second-biggest day of outflows by U.S. Bitcoin ETFs. The event was highly influenced by the tension arising amid the country’s election.&nbsp;
On November 4, one day before the U.S. election, 11 spot Bitcoin ETFs recorded an outflow of about $541.1 million. On May 1, 2024, about $563.7 million in outflow was recorded following the slipping of Bitcoin to around 10.7% in the past week and standing at about $60,000 and after that, no day has witnessed this kind of outflow as registered yesterday.&nbsp; Bitcoin- the sensitive cryptocurrency 
Now, moving back to the current scenario, the investors of Bitcoin are busy finding other ways of investing. As of today, November 5, a fall of around 1.7% in the last day and 4.6% in the past week has been recorded. At the press time, Bitcoin is trading at $68,623.&nbsp; Source: CoinAnk 
Another big outflow of $169.6 million and $138.3 million on November 4 was recorded by the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) respectively. The Grayscale Bitcoin Trust (GBTC) has witnessed a significant inflow throughout this year, but yesterday, unfortunately, it witnessed its fifth inflow of this year of about $63.7 million.&nbsp;
At the same time, the mini GBTC also recorded its third-largest outflow for the day standing at about $89.5 million.&nbsp; The only inflow&nbsp; Source: CoinAnk 
Talking about the inflow, BlackRock’s iShares Bitcoin Trust ETF (IBIT) is the only one to witness an inflow of about $38.4 million, as reported by a crypto data analysis platform, CoinAnk. On November 1, around $2.2 billion net flow into the US Bitcoin funds was also recorded.&nbsp;
The head of research at a capital market company, CoinShares, has commented that the inflows recorded in the majority of the week are the influence of excitement revolving around the anticipation of the victory of a Republican.&nbsp;
He further went on to say that Bitcoin is very sensitive to the US elections in the current scenario after the polls suggested that a minor outflow was recorded on November 1. Eyes are on both candidates and the polls say that Harris takes the lead by 1.2% points as of yesterday, reported by FiveThirtyEight data.&nbsp;
Polymarket has also listed the victory of Trump slipping to 53.8% on November 3 which was around 67% on October 30. As of now, it is only 59%. The crypto industry still wants Donald Trump to win as he has so far declared a crypto-friendly leader. Many market members have anticipated that Bitcoin can surpass $100,000 after the victory of Trump.

Outflows of US Bitcoin ETFs recorded ahead of U.S election

Todayq News

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