Bitcoin ETFs Post Record $1.1 Billion Inflow: What Is Going On?
Bitcoin (CRYPTO: BTC) spot ETFs recorded a substantial net inflow of $1.114 billion yesterday, marking an all-time high as the cryptocurrency touched near $90,000 levels on Tuesday morning.
What Happened: BlackRock‘s Bitcoin ETF (NASDAQ:IBIT) led the charge with a daily turnover of $4.65 billion and a net inflow of $756 million. Fidelity‘s Bitcoin ETF (CBOE: FBTC) also saw significant traction, bringing in a net inflow of $135 million, according to data from SoSo Value.
Ethereum (CRYPTO: ETH) spot ETFs mirrored Bitcoin’s surge in popularity, reaching a record daily inflow of $295 million on Nov. 11.
Fidelity‘s Ethereum ETF (CBOE: FETH) brought in $115 million, while BlackRock’s ETHA posted a net inflow of $101 million, showing growing investor interest in both leading cryptocurrencies.
Why It Matters: According to QCP Capital, Bitcoin’s rally, driven in part by the outcome of the U.S. presidential election, reflects a structural shift in capital allocation.
“Since the election, gold has declined by 5%, while Bitcoin has surged by 30%, signaling a shift as Bitcoin gains traction as ‘digital …
About The Author
