Spot Bitcoin ETFs in the US maintained their positive inflow for a sixth straight day, recording net inflows of $510.11 million on Nov. 13.
Author: Sahil Thakur
Written On: Thu, 14 Nov 2024 07:25:29 GMT
Spot Bitcoin ETFs in the United States maintained their positive inflow momentum for a sixth straight day, recording net inflows of $510.11 million on Nov. 13. This milestone coincided with Bitcoinâs surge past $93,000 for the first time, sparking increased interest in these funds.
Key Points:
BlackRockâs IBIT has consistently led inflows, logging $29.15 billion since its launch and boosting its total assets to $42.56 billion. The ETF reached $40 billion in assets within weeks, breaking the previous record for fastest growth set by another BlackRock fund. IBIT now ranks among the top 1% of all ETFs by assets and outpaces the 2,800 ETFs launched in the past decade.
Fidelityâs FBTC also contributed $186.07 million in inflows on Nov. 13, marking its own five-day streak. Other Bitcoin ETFs saw positive inflows, with Grayscaleâs Bitcoin Mini Trust, ARKâs ARKB, Bitwiseâs BITB, and VanEckâs HODL adding significant amounts. Notably, none of the 12 Bitcoin ETFs experienced outflows on the day.
The surge in Bitcoin ETFs coincided with Bitcoinâs new all-time high of $93,477 on Nov. 13. Bitcoinâs rally follows the recent U.S. presidential election, where Trumpâs win appears to have catalyzed renewed interest in crypto markets. At press time, Bitcoin was still trading at $90,032, up 3.9%.
Ethereum spot ETFs also recorded a sixth consecutive day of inflows, with $146.89 million on Nov. 13. Fidelityâs FETH led Ethereum ETF inflows, followed by BlackRockâs ETHA, Bitwiseâs ETHW, and Grayscaleâs Ethereum Mini Trust. Grayscaleâs ETHE was the only Ethereum ETF with outflows, recording $5.6 million in withdrawals.
The cumulative inflows in Ethereum ETFs have now turned positive, with a net $241.51 million, and Nov. 13 marked a top day for inflows since these funds launched. Ethereumâs price mirrored Bitcoinâs momentum, up 2.3% at $3,231 per coin.
Both Bitcoin and Ethereum ETFs show growing investor confidence in crypto assets as the market continues to rally. The strong inflows underscore an appetite for accessible crypto investments amid rising digital asset prices.
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