Published by CentBit.Online – Crypto & Blockchain Expert Bangladesh
U.S. spot Bitcoin exchange-traded funds (ETFs) saw a remarkable surge in investor interest, with $676 million in inflows recorded on Tuesday, nearly doubling Monday’s figure of $353.67 million.
These consistent inflows have pushed total Bitcoin holdings across all ETFs to exceed 1 million BTC, according to SoSoValue data. This milestone places ETF holdings close to the 1.1 million BTC attributed to Bitcoin’s enigmatic creator, Satoshi Nakamoto.
BlackRock Leads Bitcoin ETF Inflows
BlackRock’s iShares Bitcoin Trust ETF (IBIT) dominated the inflows, attracting $693.25 million on Tuesday alone. Other notable performances included:
- Fidelity’s Wise Origin Bitcoin Fund, which secured $52.17 million in inflows.
- However, not all ETFs benefited, with ARK 21Shares Bitcoin ETF (ARKB) seeing outflows of $93.5 million.
Meanwhile, Grayscale Bitcoin Trust ETF reported no net changes, maintaining its holdings at approximately $20.6 billion—significantly lower than IBIT’s commanding $48.5 billion.
Record-Breaking November for Bitcoin ETFs
November 2024 marked a historic high for Bitcoin ETFs, with a total of $7.6 billion in net inflows. Key highlights include:
- $6.4 billion poured into U.S. spot Bitcoin ETFs alone.
- Bitcoin Price Surge: Bitcoin’s price rallied by 45%, reaching an all-time high of $99,000.
Top ETFs Driving November’s Momentum
The rally saw institutional and retail investors flocking to ETFs. Noteworthy contributions included:
- BlackRock’s iShares Bitcoin Trust ETF: Dominated with $5.6 billion (87% of the month’s inflows).
- Fidelity’s Wise Origin Bitcoin Fund: Attracted $962 million.
- Grayscale’s Bitcoin Mini Trust ETF: Pulled in $211.5 million.
- VanEck Bitcoin ETF: Added $71.2 million.
Despite the bullish trend, some ETFs recorded outflows totaling $411 million, with Grayscale’s Bitcoin Trust leading losses at $364 million, followed by Bitwise Bitcoin ETF ($40.4 million) and Valkyrie Bitcoin Fund ($6.8 million).
Market Dynamics and Adoption Drivers
The surge in Bitcoin ETF inflows is attributed to:
- Regulatory Approvals: U.S. SEC’s green light on specific funds has provided a secure framework for investors.
- Shifting Political Dynamics: Improved sentiment surrounding crypto investments.
- Ethereum Spot ETFs: Gained traction with $133 million in inflows, highlighting broader interest in digital assets.
Outlook for Bitcoin ETFs
The strong inflows signal sustained bullish momentum as Bitcoin continues its price discovery phase. Analysts predict continued growth in institutional and retail adoption, driven by robust market sentiment and favorable regulatory developments.
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