Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. recorded their biggest daily outflow ever as Americans head to the polls in a hotly contested election.
The dozen U.S.-listed Bitcoin ETFs, which are managed by investment firms such as BlackRock (BLK) and Fidelity, lost $579.5 million U.S. on Nov. 4, the day before the U.S. election.
That was the biggest one-day outflow for U.S. Bitcoin ETFs since they launched in January of this year.
The selling comes as investors and traders brace for heightened market volatility in the aftermath of the U.S. election.
The U.S. presidential race between Republican Donald Trump and Democrat Kamala Harris was deadlocked as Americans head to the polls, leading investors to plan for market turmoil.
On the campaign trail, Donald Trump supported cryptocurrencies while Kamala Harris promised to support regulations for digital coins and tokens.
In recent weeks, cryptocurrencies such as Bitcoin had been rising on hopes for a Trump election victory.
However, crypto prices have pulled back sharply heading into election day as the outcome appears to close to call.
Bitcoin is currently trading at $68,700 U.S., down from more than $73,000 U.S. a few days ago. The price of Bitcoin has gained 55% year-to-date.
