On Monday, the U.S. Bitcoin ETFs saw a massive offloading of funds, with outflows totaling $541.07 million, as uncertainty around the upcoming U.S. elections weighs on investor sentiment. Of the eleven funds tracked, only BlackRock’s ETF moved in a positive direction, bringing in $38.42 million in Bitcoin purchases.
Eight funds experienced notable outflows, led by Fidelity’s FBTC, which recorded a substantial $169.60 million loss. Following closely was Ark Invest’s ARKB, offloading $138.26 million. Grayscale also saw sizable outflows across its two funds, with BTC losing $89.49 million and GBTC shedding $63.66 million. Bitwise’s BITB fund recorded $79.84 million in outflows, while VanEck’s HODL fund experienced $15.28 million in withdrawals. Valkyrie’s BRR and Franklin & Templeton’s EZBC funds also contributed to the overall outflow with $5.74 million and $17.62 million leaving their respective portfolios.
Meanwhile, the remaining funds from Invesco (BTCO) and WisdomTree (BTCW) reported no activity, neither recording inflows nor outflows for the day.
At the time of writing, Bitcoin is trading at $68,402, down 1.07% over the last 24 hours and showing a weekly decline of 3.66%, according to CoinMarketCap data. This downtrend and ETF outflows highlight the cautious mood of investors as the market braces for potential volatility leading up to the election.
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