BlackRock’s spot Bitcoin ETF saw its sixth net outflow since its launch in January. $44.2 million was recorded on November 5. Total outflows across all U.S. spot Bitcoin ETFs reached $116.8 million. Fidelity Wise Origin Bitcoin Fund led the way with $68.2 million in outflows. Bitwise Bitcoin ETF was the only fund to gain $19.3 million in inflows.

Bitcoin hit a record high of $75,000 after the U.S. election results. Apollo Crypto CIO Henrik Andersson called Bitcoin “the global election trade.” ETF Store President Nate Geraci said the impact of elections on ETF innovation could be overstated, but changes at the SEC could be significant.