Ethereum

Bitcoin

Propel

Bitcoin’s price surge to nearly $90,000 in early November drove a massive flow of funds into U.S. spot Bitcoin exchange-traded funds (ETFs).
On Nov. 6, Bitcoin started a bull run, skyrocketing from $69,000 to nearly $90,000 within a week. The surge, fueled by positive market sentiment and fear of missing out (FOMO), led retail and institutional investors alike to increase their Bitcoin exposure.
As a result, investments into spot Bitcoin ETFs in the U.S. for the week of Nov. 6–11 reached $2.6 billion, according to Farside Investors.
Of the 11 U.S. spot BTC ETFs, BlackRock’s iShares Bitcoin Trust attracted the highest investments, bringing in over $2 billion during this period.
Other significant ETFs contributing to the inflows included Fidelity’s Wise Origin Bitcoin Fund, the Bitwise Bitcoin ETF, and the ARK 21Shares Bitcoin ETF, which recorded inflows of $668.3 million, $180 million, and $253.2 million, respectively.
Grayscale, which previously saw substantial outflows from the ETF ecosystem, recorded a rare positive streak during the bull run.
Data from Farside Investors revealed that Grayscale’s Bitcoin ETFs — GBTC and BTC — accumulated $219.8 million in net positive inflows since Nov. 6.
Related: ‘Volmageddon’— Bitcoin ETFs, Coinbase, MicroStrategy trading volume hits $38B
The optimism extended to spot Ether ETFs as well. On Nov. 11, U.S. spot Ether ETFs reported their highest-ever daily inflows since their July launch, with $294.9 million coming in — surpassing the previous record of $106.6 million on launch day.
“After being a laggard for most of this cycle, Ethereum is starting to catch a bid,” noted BTC Markets crypto analyst Rachael Lucas in a report to Cointelegraph.

BTC ETFs Inflows Propel Price to Almost $90,000

Crypto Intelligence

Other articles published on Nov 13, 2024

Consensys Linea Decentralization Through New Swiss Association

Optimism's Technical Analysis Suggests Major Rally Ahead

Dubai’s VARA requests increased compliance from VASPs operating in UAE

Bitcoin Consolidates Above the Gains-May Revamp A Strong Rise Once Long-Term Holders Become Bullish

Bitcoin’s ATH at $87.4K Signals Massive Rally Ahead as Analysts Gravitate Toward These 3 Altcoins

Can India Afford to Ignore Bitcoin Amid Global Crypto Optimism? Bernstein Weighs In

Join our free newsletter for daily crypto updates!