Bitcoin (BTC) exchange-traded funds (ETFs) in the United States have collectively crossed $100 billion in net assets for the first time, managing approximately $104 billion as of November 21, according to Bloomberg Intelligence. This marks a significant milestone for the cryptocurrency industry, which has seen rapid institutional adoption since spot Bitcoin ETFs launched in January.
Investor interest in BTC ETFs surged in November, following the U.S. presidential election. President-elect Donald Trump’s pro-crypto stance has fueled market optimism, with over $5 billion in ETF inflows reported since his victory. Bryan Armour, director of passive strategies research at Morningstar, noted that the election result has improved the outlook for Bitcoin’s future, driving performance and investor participation.
ETF Market Leaders:
BlackRock’s iShares Bitcoin Trust (IBIT): Leads the market with $30 billion in net inflows since January.
Fidelity Wise Origin Bitcoin Fund (FBTC): The second-largest BTC ETF, with $11 billion in inflows year-to-date.
Bitcoin ETFs are closing in on gold ETFs, which currently hold $120 billion in AUM. Bloomberg ETF analyst Eric Balchunas highlighted that Bitcoin ETFs are “97% of the way to surpassing Satoshi as the largest holder and 82% of the way to overtaking gold ETFs.”
Market Impact:
Bitcoin (BTC) is trading at over $96,000, up nearly 120% year-to-date, according to Google Finance data. BlackRock’s IBIT also recorded its highest-ever daily volume on November 6, just after Trump’s election, with $1.1 billion in inflows.
As investors hedge against geopolitical tensions and potential fiat currency debasement, both gold and Bitcoin have gained prominence. JPMorgan’s October report suggested a growing trend toward these assets as part of a “debasement trade,” positioning Bitcoin ETFs as a major force in financial markets.
With Bitcoin expected to reach between $100,000 and $150,000 per coin, institutional and retail adoption through ETFs could further strengthen its position as a core financial asset.
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