As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous trends and fluctuations that have shaped the investment landscape. The recent surge in Bitcoin ETF inflows, reaching an unprecedented $6.2 billion in November, is undeniably a significant event. The confluence of factors such as Bitcoin’s rally towards $100,000, President-elect Trump’s pro-crypto stance, and the increasing investor confidence in crypto ETFs, has created a perfect storm for this bullish trend.
Approximately twelve exchange-traded funds (ETFs) that deal with Bitcoin have amassed approximately $6.2 billion in investments during the month of November. This figure is rapidly approaching the monthly investment record, with Bitcoin currently hovering around $100,000.
Bitcoin exchange-traded funds (ETFs) are experiencing their best month to date, with approximately $6.2 billion in investments flowing into them during November. This growth can be attributed to Bitcoin’s rising value approaching $100,000 and the pro-cryptocurrency stance of President-elect Donald Trump, according to Bloomberg’s latest report.
According to the report, inflows (money flowing into) to ETF issuers like BlackRock and Fidelity are expected to surpass the $6 billion record set in February. Moreover, it mentions that Bitcoin is getting close to reaching the $100,000 mark.
Investment in the capital has increased following Trump’s promise to soften the Biden administration’s tough approach towards cryptocurrencies, which includes suggesting regulatory adjustments and the establishment of a strategic Bitcoin reserve. According to analysts interviewed by Bloomberg, these decisions, along with Bitcoin’s recent surge in popularity, are boosting investor trust in crypto Exchange-Traded Funds (ETFs).
In the context of a Trump presidency, it’s anticipated that it could become simpler for businesses and pension plans to integrate Bitcoin into their investment portfolios.
Josh Gilbert, market analyst at eToro
Ethereum ETFs outpace Bitcoin in recent inflows
As a researcher, I’ve observed that this year, the U.S. Securities and Exchange Commission granted approval for spot Bitcoin ETFs, which came after a legal setback in 2023. While Chair Gary Gensler, who has been critical of the crypto industry, is now stepping down, his term also witnessed the endorsement of Ethereum-linked ETFs. Interestingly, these Ethereum-linked ETFs had minimal influence on Ethereum’s price compared to the significant surge experienced by Bitcoin.
Over the past few trading days, I’ve noticed a surge in interest for Ethereum-based Exchange Traded Funds (ETFs), even outperforming Bitcoin ETFs when it comes to inflows before Thanksgiving. However, Bitcoin ETFs still hold a strong position, boasting a combined net asset value of $104.32 billion as of November 27th, according to SoSoValue.
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2024-11-29 16:24