Catalysis of the reaction: 5-(3,4-diacetoxybut-1-ynyl)-2,2'-bithiophene + H2O = 5-(3-hydroxy-4-acetoxybut-1-ynyl)-2,2'-bithiophene + acetate + H+.
3,4-diacetoxybutinylbithiophene:4-acetate esterase activity