Bitcoin ETF inflows reach $6.4 billion in November
Record inflows into bitcoin funds
In November 2024, U.S. investors poured $6.4 billion into spot Bitcoin exchange-traded funds (ETFs), as Bitcoin's price hit a record $99,000.
As Сointelegraph writes, the month-long rally of the leading digital asset saw Bitcoin prices surge from $68,000 to $99,000. Amid bullish sentiment, spot Bitcoin ETFs accumulated $6.87 billion in inflows, with outflows amounting to $411 million.
BlackRock's iShares Bitcoin Trust ETF led the way, attracting $5.6 billion in investments in November, accounting for nearly 87% of the total inflows. Other notable players included Fidelity’s Wise Origin Bitcoin Fund ($962 million), Grayscale Bitcoin Mini Trust ETF ($211.5 million), and VanEck Bitcoin ETF ($71.2 million).
What’s next?
The ongoing influx of funds from institutional and retail investors, driven by Bitcoin's high price, is expected to sustain the current rally. Traders and analysts predict "massive long-term opportunities" for Bitcoin in the coming months as it enters a price discovery phase.
This trend appears resilient despite market outflows from certain players in November, including the Grayscale Bitcoin Trust ETF (-$364 million), Bitwise Bitcoin ETF (-$40.4 million), and Valkyrie Bitcoin Fund (-$6.8 million).
Meanwhile, major players continue to increase their exposure to spot Bitcoin ETFs. Notably, Goldman Sachs holds over $700 million in Bitcoin ETFs, focusing primarily on BlackRock's fund.
