Spot Bitcoin ETFs See Second-Highest Outflows As Mt. Gox Moves $2.2 Billion In BTC Ahead Of US Election

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Spot
Bitcoin
ETFs
registered
their
second-largest
daily
outflows
on
record
as
Mt.
Gox
transferred
BTC
worth
$2.2
billion
to
unmarked
addresses
as
the
US
election
looms.


The
11
spot
Bitcoin
ETFs
saw
$541.1
million
leave
their
reserves
on
Nov.
4,
according
to
Farside
Investor



data
.
Only
the
fund
belonging
to
asset
management
titan



BlackRock


managed
to
record
inflows
on
the
day,
securing
inflows
of
$38.4
million.
Invesco’s
BTCO
and
WisdomTree’s
BTCW
recorded
no
new
flows.

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Most
of
the
outflows
came
from
Fidelity’s
FBTC,
with
$169.6
million
leaving
the
fund.
ARKB
suffered
the
next
biggest
blow
with
$138.3
million
in
outflows.
Meanwhile,
both
of
Grayscale’s
spot
Bitcoin
ETFs,
GBTC
and
BTC,
posted
outflows
of
$63.7
million
and
$89.5
million,
respectively.


The
remaining
funds,
BITB,
EZBC,
BRRR,
and
HODL
all
saw
capital
leave
their
reserves
as
well.


Mt.
Gox
Moves
32,371
BTC
To
Unmarked
Address


Spot



Bitcoin


ETF
investors
are
not
the
only
ones
that
moved
capital
yesterday.
Defunct
crypto
exchange
Mt.
Gox
transferred
approximately
32,371
BTC
to
unmarked
wallet
addresses
on
Nov.
4,
according
to
blockchain
analytics
firm



Arkham
Intelligence
.


Yesterday’s
transfer
comes
after
the
exchange
announced
that
it
is
postponing
its
repayment
deadline
from
Oct.
31,
2024
to
Oct.
31,
2025.


Data
from
Arkham
Intelligence
shows
the
exchange
holds
over
$3
billion
in
Bitcoin.
Following
the
slight
correction
in
the
Bitcoin
price
in
the
past
day
the
dollar
value
of
the
exchange’s
holdings
dropped
more
than
$11
million.


Bitcoin
registered
a
minor
loss
in
the
past
24
hours
to

trade

at
$68,658.13
as
of
2:43
a.m.
EST. 


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