Bitcoin ETFs rebound with $622m inflows, IBIT sees record trading volume
Bitcoin ETFs saw a $622 million inflow on November 6
A massive $622 million inflow into spot Bitcoin ETFs on November 6 highlighted the renewed demand for Bitcoin (BTC) in the institutional investment landscape.
This capital inflow boosted trading volume to an impressive $6.07 billion in a single day, the highest turnover since March. BlackRock's iShares Bitcoin Trust (IBIT) stood out with a record daily turnover of $4.14 billion, while Fidelity's ETF, FBTC, also made a significant contribution with $308.77 million in inflows, underscoring sustained interest in Bitcoin among institutional investors, according to Coincu.
Record-breaking trading volumes and market engagement
This surge in trading volume puts Bitcoin ETFs on par with major stocks in terms of daily activity. According to Bloomberg ETF analyst Eric Balchunas, IBIT’s trading volume even surpassed that of large companies like Berkshire Hathaway, Netflix, and Visa on this record day. However, Balchunas noted that high trading volumes don’t necessarily equate to inflows, as they account for both buying and selling activity, indicating active market engagement around Bitcoin rather than unidirectional demand.
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Notably, this surge comes amid mixed flows in the market. IBIT saw its largest single-day outflow since its launch, with a net withdrawal of approximately $69 million, according to SoSo Value. Other Bitcoin ETFs, including Valkyrie's BRRR, also recorded outflows, though on a smaller scale, with $2 million in net withdrawals. Meanwhile, Grayscale and Bitwise ETFs saw substantial inflows, with Grayscale's BTC receiving $109 million, marking its second-largest single-day inflow. Bitwise's BITB ETF attracted $101 million in capital, its strongest performance since February. These figures reflect a dynamic interest across various Bitcoin-focused funds.
Sustained momentum and broader acceptance
The momentum in Bitcoin ETFs seems to align with a major political event, with Donald Trump, known for his pro-crypto stance, returning as President of the United States.
This surge in ETF inflows and trading activity signals growing acceptance of Bitcoin within mainstream financial channels. Institutional investors appear increasingly willing to adopt Bitcoin as part of their portfolios, particularly through the regulated and familiar structure of ETFs. The sustained interest in these investment tools highlights Bitcoin's resilience and the growing appeal of digital assets as viable investment options.
Record trading volumes may suggest that Bitcoin is becoming an essential component of institutional portfolios, signaling a new era for digital assets in traditional finance.
It is worth noting that on November 6, Bitcoin reached a new all-time high of $75,150 amid the U.S. election results.
