Key Points:
As of November 21, total investment in Bitcoin spot ETFs reached a net inflow of $1.005 billion. BlackRock‘s ETF, IBIT, garnered inflows worth $608 million, while Fidelity’s ETF, FBTC, was the second-best performer, with inflows of $301 million. Such frenzy reflects growing confidence in the Bitcoin-focused ETF among institutional investors.
While Bitcoin ETFs saw unprecedented inflows, this was a function of broader interest in the cryptocurrency market for regulated investment products. According to Sosovalue, this is indicative of a very strong appetite among both retail and institutional participants, boosting the dynamics of the markets and indicating increased mainstream adoption.
Read more: Bitcoin Spot ETF Inflows Reach $796M On November 20
In contrast, Ethereum ETFs saw a net outflow of $9.05 million on Nov 21st: Grayscale‘s ETHE took the most damage with a single-day outflow of $27.07 million. However, not all were in the red, as this was somewhat balanced out by Fidelity’s ETF FETH with an inflow of $16.79 million – an indicative result of some investors’ confidence.
These do present trends of how the two markets diverge, whereby Bitcoin starts to move and Ethereum doesn’t. A cautious investor likely prefers Bitcoin as relatively safer and more established within the crypto space.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…
BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…
Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…
This website uses cookies.