Bitcoin ETFs bring in $1.1b as Ether ETFs see record inflows

crypto.news · 2024-11-12T00:45:18+00:00

U.S. Bitcoin ETFs continued to receive inflows, with daily inflows surpassing $1 billion for the second time this month, reaching a total of $4.96 billion since November. Ethereum ETFs saw their highest inflow day, with spot Ether ETFs drawing a record $295 million.

crypto.news

2024-11-12 00:45:18

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U.S. Spot Bitcoin ETFs continued their inflow streak on Nov. 11, recording the second time daily inflows surpassed $1 billion this month.

Since the start of November, a total of $4.96 billion has flown into Bitcoin ETFs according to SoSoValue data. The recent uptick in demand followed Donald Trump’s victory in the U.S. elections which has sparked market-wide optimism across the broader sector.

BlackRock’s IBIT led the market on Monday, drawing $756.4 million in new investments and extending its three-day streak of positive inflows, while also setting a record with $4.5 billion in daily trading volume.

Only four of the 12 offerings did not record any flows on the day. Other Bitcoin ETFs contributing to the total net inflows of $1.11B included:

Fidelity’s FBTC: $135.07 million.
ARK and 21Shares’ ARKB: $108.62 million.
Bitwise’s BITB: $42.66 million.
Grayscale’s Bitcoin Mini Trust: $28.19 million.
Grayscale’s GBTC: $24.23 million.
Franklin EZBC: $10.09 million.
Invesco’s BTC: $8.70 million.

As of Monday’s close, cumulative net inflows across all U.S. Bitcoin ETFs reached a record high of $26.90 billion since their respective launches.

The inflows came as Bitcoin (BTC) surged past $80,000 for the first time over the weekend, ultimately reaching a new all-time high of $89,864 on Nov. 12

Onramp Bitcoin co-founder Jesse Myers attributes Bitcoin’s recent price surge primarily to a post-halving supply shock, as reduced new supply fails to meet growing demand. The scarcity effect, intensified by Bitcoin ETFs, is pushing prices higher to restore market equilibrium.

Ethereum ETFs record highest inflow day

With BTC making major moves, Ethereum (ETH) has also jumped over 38% in the past week hitting price levels last seen in July. Institutional players are finally turning their attention to Ethereum ETFs, as hopes for regulatory clarity and the potential for staked Ether ETFs have driven steady inflows since post-election day.

Spot Ether ETFs drew in a record $295 million per SoSovalue data, surpassing the $106.78 million reached in July when the offering first started trading.

Fidelity’s FETH led with $115.5 million in inflows, followed closely by BlackRock’s ETHA, which attracted $100.5 million. Meanwhile, Grayscale’s Ethereum mini-trust and Bitwise’s ETHW saw inflows of $63.3 million and $15.6 million, respectively.

At the time of writing, Ethereum was up 7.1% in the past 24 hours, trading at $3,366, while Bitcoin rose 9.6% on the day, priced at $89,003 per coin.

BTC2,89%

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