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News

Bitcoin Spot ETF Inflows Hit $3.38 Billion Setting Record

November 25, 2024 - Around 2 mins mins to read

Key Points:

  • Bitcoin Spot ETF Inflows Set New Record of $3.38B
  • Ethereum ETFs Face Outflows Amid Bitcoin’s Success
Bitcoin Spot ETF Inflows reached $3.38B last week, a new record with 7 weeks of growth, while BlackRock and Fidelity led inflows. Ethereum ETFs saw net outflows.
Bitcoin Spot ETF Inflows Hit $3.38 Billion Setting Record

Bitcoin Spot ETF Inflows Set New Record of $3.38B

Bitcoin Spot ETF Inflows Hit $3.38 Billion Setting Record

Inflows into Bitcoin Spot ETFs reached a record $3.38 billion during the week beginning November 18 and ending November 22, marking seven straight weeks of positive net inflows. It shows continuous interest in Bitcoin-tracking ETFs. The BlackRock ETF, IBIT, continued to top, with weekly inflows of $2.05 billion, while the Fidelity ETF, the FBTC, was second at $773 million of flows.

These numbers are stunning and further solidify Bitcoin’s lead in the crypto ETF markets. According to Sosovalue, growing confidence in Bitcoin’s regulated investment product is reflected by an uptick in institutional involvement, which creates the conditions for further growth in the sector.

Read more: Ethereum Spot ETF Inflows Hit $91.2M After Six-Day Outflow

Ethereum ETFs Face Outflows Amid Bitcoin’s Success

Bitcoin Spot ETF Inflows Hit $3.38 Billion Setting Record

Meanwhile, Ethereum Spot ETFs continued bleeding and recorded a net outflow of $71.6 million this week. The largest outflow came from Grayscale‘s ETHE ETF with $95.57 million, which was partly offset by BlackRock’s ETHA recording a $78.34-million net inflow for the week.

The opposing trends of Bitcoin and Ethereum ETFs underline the evolution in market dynamics. Recent outflows from Ethereum reveal investors’ cautiousness, either as a function of general market conditions or broad-based preference for Bitcoin as the leading crypto asset in ETFs.

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.

Bitcoin

Bitcoin Spot ETF

ETF

Ether ETF

Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.