On November 20, Spot Bitcoin ETFs saw huge interest, with a record inflow of $774 million. With this investment flow, the total market value of Spot Bitcoin ETFs exceeded $100 billion. BlackRock and Fidelity led the way with investments of $627 million and $133 million, respectively. On the other hand, spot Ethereum ETFs saw an outflow of $30 million.$ETH
According to data as of November 20, 2024, there was a net inflow of $774 million into spot Bitcoin ETFs in the US. BlackRock’s fund attracted an investment of $627 million, while Fidelity’s fund contributed $133 million. In contrast, there was a total outflow of $30 million from spot Ethereum ETFs. BlackRock’s spot Ethereum ETF received an investment of $16 million, while Fidelity received an outflow of $30 million.
The great interest in spot Bitcoin ETFs has increased, especially with the contributions of major fund managers such as BlackRock and Fidelity. BlackRock took the lead in spot Bitcoin ETFs with an investment of $627 million, while Fidelity made a significant contribution of $133 million. These investments enabled the total market value of spot Bitcoin ETFs to exceed $100 billion. This development shows that Bitcoin’s appeal to institutional investors has increased.
However, there is a different situation on the Ethereum side. There was a net outflow of $30 million from spot Ethereum ETFs. While there was a $16 million inflow to BlackRock's spot Ethereum ETF, there was a $30 million outflow by Fidelity. This situation clearly differentiates institutional investor preferences between Bitcoin and Ethereum.
The fact that institutional investors are turning to spot Bitcoin ETFs shows that confidence in this new investment vehicle is increasing. In addition, the fact that the total market value of ETFs exceeds $100 billion stands out as a development that strengthens Bitcoin's position in the financial system. The fact that large fund managers such as BlackRock are active in this area also creates an encouraging effect for other investors.
The outflows in Ethereum indicate a different dynamic. The intense interest in Bitcoin may be triggering resource outflows from spot Ethereum ETFs. However, while it is still unclear how Ethereum will perform in the long term, it is expected that the flow of resources will be directed to Ethereum in the future.
The fact that institutional investors predominantly prefer Bitcoin when evaluating opportunities in the cryptocurrency market shows that investments in Spot ETFs indicate a new era in the cryptocurrency market.