Bitcoin ETFs in the United States witnessed record inflows in November 2024 at over $6.5 billion surpassing the $6 billion record achieved in February 2024.

According to data from SosoValue:

  • The ETFs received a net inflow value of $320.01 million on November 29 2024, the last day of trading of the month.

  • The largest single-day inflow was $1.3 billion coming in on November 7 2024, following the U.S Presidential Election.

Meanwhile, according to BlackRock, its Bitcoin ETF iShares Bitcoin Trust (IBIT) has raced up the list of its ETF offerings in terms of total assets.  IBIT, launched in January 2024, has over $42.9 billion in net assets as of December 2 2024, having surpassed Blackrock’s gold ETF iShares Gold Trust (IAU), which has been active since 2005.

According to Dune Analytics, the on-chain holdings of the U.S spot Bitcoin ETF have surpassed 1.12 million BTC, currently standing at around 1.128 million BTC, which represents 5.7% of the total BTC supply.

The new record surpasses the February 2024 record. The 9 newly established spot Bitcoin exchange-traded funds (ETFs) then collectively held over 200,000 BTC in assets under management – Nearly 1% of Bitcoin’s total supply.

MILESTONE | Bitcoin ETFs Collectively Hold Nearly 1% of Bitcoin’s Total Supply as of February 2024

In less than a month of trading, the nine newly established spot Bitcoin exchange-traded funds (ETFs) collectively hold over 200,000 BTC in assets under management. This figure… pic.twitter.com/ILmUOWmMba

— BitKE (@BitcoinKE) February 12, 2024

Buyers enthusiasm has increased following the victory of Donald Trump in the U.S Presidential elections on November 8 2024, signalling a new era for Bitcoin which is up more than 38% in the last 30 days, and nearing $100,000 in value.

Trump, who himself owns a crypto project, World Liberty Financial, has said that crypto is essential to his vision of America in the future and pledged to ensure that the U.S. government never sells off its Bitcoin holdings and creates a Bitcoin “strategic reserve”.

POLITICS | Trump to Unveil Plan to Make U.S. Crypto Capital of the Planet

_”I’m laying out my plan to ensure that the United States will be the crypto capital of the planet. Donald Trump#Crypto #IndependenceDay2024 #BTChttps://t.co/5kJdwHaRI5

— Salaxzy (@Salaxzy) August 31, 2024

Trump’s pick for Treasury Secretary, Scott Bessent, is a vocal supporter of blockchain’s transformative potential, particularly in modernizing financial systems.

He’d also pledged to fire unpopular SEC Chairman, Gary Gensler, on his first day as President on January 2025. Consequently, the head of the U.S financial regulator, Gensler, recently announced he will resign from his role on the day of President-elect Donald Trump’s inauguration setting the stage for a pro-crypto chairperson.

Trump’s presidential win is seen as a greenlight for more than half a dozen proposed crypto ETFs waiting on regulatory approval to list in the U.S.

In 2024, asset managers filed numerous regulatory applications to launch ETFs featuring altcoins like Solana. Additionally, issuers are awaiting approval for several proposed crypto index ETFs intended to include a variety of tokens.

 

 

 

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