On November 4, US spot Bitcoin ETFs experienced $541.1 million in net outflows, marking their second-largest outflow day in history. This decline occurred just before the US elections on November 5, amid traders trimming their exposure as Bitcoin dropped 4.6% over the past week, trading around $68,000. Among the 11 Bitcoin ETFs, only BlackRock's iShares Bitcoin Trust ETF saw inflows, gaining $38.4 million. The Fidelity Wise Origin Bitcoin Fund reported the largest outflow, totaling $169.6 million, with the ARK 21Shares Bitcoin ETF following at $138.3 million. Overall, these funds witnessed outflows on two consecutive trading days after a week of inflows that stemmed from positive sentiments around Republican electoral prospects. Polls show a tightly contested race between Kamala Harris and Donald Trump, with Trump favored in the crypto community due to his pro-crypto stance. As uncertainty looms ahead of the election, the sensitivity of Bitcoin to political outcomes remains apparent.

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