On November 5, BlackRock's iShares Bitcoin Trust (IBIT) experienced a significant outflow of $44.2 million, marking the sixth day of net outflows since its inception in January. This decline coincided with the US election day, prompting institutional investors to adopt a risk-off stance. The overall net outflows from 11 US spot Bitcoin ETFs totaled $116.8 million, with the Fidelity Wise Origin Bitcoin Fund experiencing the largest outflow of $68.2 million. Despite this downturn, the spot crypto market rebounded later in the day as results from the elections rolled in, contributing to Bitcoin nearing its all-time high. Apollo Crypto's chief investment officer noted high probabilities for a particular election outcome, suggesting Bitcoin's market movements reflect this sentiment. He predicted Bitcoin could reach $100,000 by year's end, contingent on the election results. Meanwhile, discussions around the regulatory impact of the elections on the crypto ETF landscape suggest that the outcome may influence the pace of innovation within the sector.

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