As a seasoned crypto investor with over a decade of experience under my belt, I can confidently say that these recent trends are nothing short of extraordinary. The consistent inflows into Bitcoin and Ethereum ETFs are a testament to the growing mainstream acceptance of digital assets.
On November 13th, U.S. Bitcoin exchange-traded funds saw their sixth straight day of positive investment, taking in a total of $510.11 million. This influx occurred as Bitcoin reached a new high of over $93,000 for the first time.
Based on SoSoValue’s data, Bitcoin ETFs occupying the 12th spot recorded a total of $4.73 billion in investments over six consecutive trading days ending on November 13. On Thursday, BlackRock’s IBIT led the pack for the fifth day in a row with inflows amounting to $230.81 million. Importantly, since its launch, IBIT has attracted over $29.15 billion, which now totals BlackRock’s managed assets at approximately $42.56 billion.
As an analyst, I previously mentioned in one of my posts that BlackRock’s IBIT has rapidly amassed $40 billion in assets within mere two weeks after reaching $30 billion, shattering the previous record of 1,253 days held by BlackRock’s IEMG. This ETF now stands among the top 1% of all Exchange Traded Funds (ETFs) in terms of assets, and at only ten months old, it already surpasses the combined total assets of all 2,800 ETFs introduced over the past decade.
On Thursday, Fidelity’s FBTC added an inflow of $186.07 million, marking the fifth consecutive day of such contributions. Remarkably, no exchange-traded funds faced outflows that day. Here’s a breakdown of the daily inflows:
- Grayscale Bitcoin Mini Trust: $61.3 million
- ARK and 21Shares’ ARKB: $14.47 million
- Bitwise’s BITB: $12.33 million
- VanEck’s HODL: $5.12 million
On November 13th, the combined trading volume for the twelve Bitcoin Spot ETFs hit an all-time high of $8.07 billion. Specifically, BlackRock’s IBIT saw a massive surge in trading activity with $5.37 billion in volume, marking its largest day since its launch. Additionally, Fidelity experienced a significant increase in trading volume, recording $1 billion on that day, which is its highest daily volume since March.
On November 13th, Bitcoin ETF investments experienced a notable surge, as Bitcoin, the leading cryptocurrency, hit an unprecedented peak of $93,477 on Thursday. This significant rally fueled increased interest among investors in Bitcoin-related Exchange Traded Funds (ETFs). Bitcoin’s value has soared substantially since Trump’s victory in last week’s U.S. presidential election, repeatedly breaking its former record highs.
At press time, Bitcoin (BTC) was still up 3.9%, exchanging hands at $90,032.
Ether hits six-day inflow streak
On November 13th, I witnessed a sixth consecutive day of inflows into the Ethereum ETFs I’m invested in, amounting to approximately $146.89 million. The lion’s share of these inflows, around $101.72 million, went towards Fidelity’s FETH. Other significant contributors were BlackRock’s ETHA with $35.63 million, Bitwise’s ETHW with $13 million, and the Grayscale Ethereum Mini Trust with $2.15 million.
As a crypto investor, I noticed that among all Ethereum ETFs, only Grayscale’s ETHE experienced outflows yesterday, with approximately $5.6 million being withdrawn from the fund. The other Ethereum ETFs, however, stayed steady and neutral during this period.
Over the last six trading days, these ETFs have seen over $800 million in total net inflows, with the last three days marking the top three individual inflow days since launch. The cumulative net inflows have now turned positive at $241.51 million.
At press time, Ethereum (ETH) was also up 2.3%, trading at $3,231 per coin.
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2024-11-14 10:04