Bitcoin ETF Outflows Pass $1 Billion: Why Institutions Are Selling After the Midterms

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Spot Bitcoin ETFs bled over $1 billion in three sessions as the Binance hack and the midterms spooked institutions. Where does BTC go next?Add as a preferred source on GoogleFollow on Google NewsCategories: ETFs & InstitutionsNovember has started the way October ended for the US spot Bitcoin ETFs: with money leaving. Three sessions in a row, more than a billion dollars out, and BlackRock's IBIT doing most of the selling. Meanwhile $Bitcoin is trying to hold the $76,000 to $77,000 zone after the Democrats swept the midterms. Here is what the flows are telling us. What happened to the Bitcoin ETF flows this week? According to SoSoValue, the spot Bitcoin ETFs recorded three consecutive days of net outflows: 30 October: $643.3 million, the largest single-day exit since late June. This was the first trading session after Binance confirmed its $6.3 billion hack.2 November: $398.6 million, the first outflow day of the new month.3 November: $115.6 million, a much smaller figure, but...