Spot Bitcoin exchange-traded funds in the U.S. recorded $621.9 million in net inflows on Nov. 6 as Bitcoin reached an all-time high of over $76,000.
According to data from SoSoValue, the 12 spot Bitcoin ETFs saw net positive inflows on Monday, breaking a three-day outflow streak in which $712.9 million exited the funds.
Fidelity’s spot Bitcoin ETF, FBTC, led the inflow surge with $308.77 million added to its holdings, breaking a four-day inflow streak. ARK 21Shares’s ARKB, Grayscale Bitcoin Mini Trust, and Bitwise BITB assisted with inflows of $127 million, $108.81 million, and $100.92 million respectively.
Grayscale’s GBTC and VanEck’s HODL brought in more modest inflows of $30.91 million and $17.18 million respectively.
In contrast, BlackRock’s flagship iShares Bitcoin Trust encountered outflows of $69.11 million, diverging from the positive momentum seen across most spot Bitcoin ETFs. The largest bitcoin ETF in terms of net assets held has seen over $26 billion in total net inflows since the launch day.
Bloomberg ETF analyst Eric Balchunas highlighted that IBIT experienced its highest trading volume ever on Nov. 6, with over $4.1 billion in daily trades, surpassing major stocks like Berkshire Hathaway, Netflix, and Visa. IBIT rose 10% on the day, marking its second-best performance since launch.
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Other Bitcoin ETFs similarly saw trading volumes double compared to their average, making it one of their strongest days since January noted Balchunas in a follow-up post.
The significant net inflows into Bitcoin ETFs occurred amid a bullish period for Bitcoin which set a new all-time high of $76,240 on Nov. 6.
Bitcoin’s price rally came shortly after pro-crypto Donald Trump was elected as the next president of the United States, securing more than 270 Electoral College votes and a majority in the popular vote. Although some ballots remain uncounted, Trump has been declared the winner.
Bitcoin (BTC) has since slightly pulled back to $74,721, as per data from crypto.news. Analysts suggest that Trump’s election, coupled with his anticipated pro-crypto policies, may drive growth not only for Bitcoin but also for other digital assets.
In 2024, several asset managers have filed with regulators to list ETFs holding alternative cryptocurrencies such as Solana, XRP, and Litecoin. Additionally, several crypto index ETFs—offering exposure to a diversified selection of tokens—are also awaiting approval.
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