According to Cointelegraph: On U.S. election day, BlackRock's iShares Bitcoin Trust (IBIT) experienced a rare net outflow of $44.2 million, its sixth since the ETF launched in January. This outflow reflects a cautious stance from institutional investors amid election uncertainties, as IBIT joined other major U.S. Bitcoin ETFs in recording withdrawals. In total, the 11 U.S. spot Bitcoin ETFs saw outflows of $116.8 million on November 5, with the largest withdrawals coming from Fidelity’s Wise Origin Bitcoin Fund, which lost $68.2 million.
Bitcoin ETF Outflows Despite Bullish Market Surge
Despite the outflows, spot crypto markets surged as election results came in, pushing Bitcoin to a new all-time high of $75,000. Henrik Andersson, chief investment officer of Apollo Crypto, attributed Bitcoin’s price surge to strong election-driven demand. Citing an 80-90% probability of Trump’s victory, Andersson forecasted that Bitcoin could reach $100,000 by year-end if Trump indeed wins.
Election’s Potential Impact on ETF and Crypto Regulation
While ETF Store President Nate Geraci noted that election-driven market effects are often overstated, he emphasized that the regulatory landscape, particularly SEC leadership, will influence the pace of crypto ETF innovation. Geraci highlighted the importance of bipartisan efforts in developing a comprehensive crypto framework, stressing that the election outcome could accelerate or delay ETF regulatory progress.
Bitcoin’s Election-Driven Trajectory and Future Price Predictions
Bitcoin has been dubbed the "election trade" by traders, with its recent rally reflecting sentiment around the U.S. election. Analysts remain optimistic, with many predicting continued gains as political and regulatory developments unfold. As Bitcoin hovers near record highs, the crypto market is closely watching for potential shifts that could drive BTC toward the anticipated $100,000 mark in the coming months.
