Spot Crypto ETFs Shed $604M in Assets
Crypto ETF investors pulled $541.1 million from spot Bitcoin funds and $63.2 million from Ethereum products the day before the U.S. presidential election, according to data from U.K.-based asset manager Farside Investors.
The $541.1 million Bitcoin ETF exodus was only surpassed by the $563.7 million in outflows on May 1, according to Farside.
The withdrawals marked a sharp reversal from the previous week, when Bitcoin ETFs attracted net inflows of $2.2 billion. Those gains came as crypto’s favored candidate Donald Trump’s prospects to regain the U.S. presidency looked bright. But the momentum shifted over the weekend to Kamala Harris.
“I don’t think the crypto market is predicting a Trump loss, but I do believe bitcoin outflows…
