Bitcoin prices surged from $68,000 to $99,000 during a month-long bull run in November.
A total of $6.87B was received by spot Bitcoin ETFs, while $411 million was withdrawn.
November saw a record-breaking 45% rally in the price of Bitcoin. Sending $6.4 billion into spot exchange-traded funds (ETFs) as investors in the US flocked to the cryptocurrency.
Bitcoin prices surged from $68,000 to $99,000 during a month-long bull run in November. A total of $6.87 billion was received by spot Bitcoin ETFs. While $411 million was withdrawn, as a result of optimistic views.
The iShares Bitcoin Trust ETF, which is managed by BlackRock, received $5.6 billion in November. Making up about 87% of the total monthly inflows, according to statistics from Farside Investors.
A number of other well-known players also received substantial investments. Including the $962 million Wise Origin Bitcoin Fund from Fidelity, the $211.5 million Bitcoin Mini Trust ETF from Grayscale, and the $71.2 million Bitcoin ETF from VanEck.
Positive Investor Sentiment
With Bitcoin’s high price and the continued influx of capital from institutional and individual investors, the bull run is likely to continue. A price discovery period for Bitcoin is about to begin. And traders and experts are predicting tremendous long opportunities for the cryptocurrency in the months to come.
Meanwhile, the $411 million in monthly withdrawals were accounted for by three players. A total of $364 million left the Grayscale Bitcoin Trust ETF, $40.4 million left the Bitwise Bitcoin ETF, and $6.8 million left the Valkyrie Bitcoin Fund.
Additionally, November was predicted to be a very optimistic month according to Alternative.me’s Crypto Fear & Greed Index, which analyses investor sentiment. The Crypto Fear & Greed Index hit a new yearly high of 92 on November 22nd. Indicating that investors are quite positive.
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