Bitcoin ETP saw its second largest net outflow in a single day this year yesterday, possibly to hedge against volatility in the U.S. election.

BlockBeats News, November 5th, K33 Research Director Vetle Lunde released data showing that Bitcoin Exchange-Traded Products (ETPs) had the second-largest single-day net outflow of the year yesterday, amounting to 8,352 bitcoins. The highest single-day net outflow of the year, 11,964 bitcoins, was recorded on May 1st.

Lunde stated that this significant outflow may be related to investors' risk aversion ahead of the U.S. election. Nevertheless, he emphasized that the net inflow over the past 5 days remains strong at 14,157 bitcoins.