Significant Inflows Boost Assets Under Management
Spot Bitcoin exchange-traded funds (ETFs) continue their upward momentum, attracting $1.7 billion in weekly inflows, extending their positive streak to six consecutive weeks. This growth has brought total assets under management to $95.4 billion, representing 5.27% of Bitcoin’s total market capitalization of $1.8 trillion.
Another Successful Week for Bitcoin ETFs
Positive Market Momentum
Between November 11 and 15, spot Bitcoin ETFs recorded net inflows of $1.67 billion, according to data from the tracking platform SoSoValue. This performance aligns with the bullish sentiment in the cryptocurrency market, driven by Bitcoin’s sharp price increase.
Market Leaders
Leading the inflows is BlackRock's iShares Bitcoin Trust (IBIT), which has amassed cumulative inflows of $29.3 billion. In contrast, the Greyscale Bitcoin Trust ETF has seen outflows totaling $20.3 billion since spot BTC ETFs began trading in January.
Ether ETFs Experience Growth as Well
Weekly Inflows for ETH ETFs
In addition to Bitcoin ETFs, spot Ether ETFs also recorded inflows, attracting $515 million in the past week. Over the past three weeks, Ether ETFs have seen net inflows of $682 million, underscoring growing investor interest in Ethereum-based products.
Six Weeks of Inflows Add Nearly $9 Billion
Sustained Growth
Since October 11, spot Bitcoin ETFs have accumulated inflows of $8.95 billion over six consecutive weeks, according to SoSoValue. This growth coincided with Bitcoin reaching its all-time high of $92,400 on November 13, following its first-ever breach of $90,000 on November 12.
Paul Tudor Jones Strengthens Exposure to IBIT
Billionaire Among Top IBIT Holders
Investment magnate Paul Tudor Jones increased his holdings in BlackRock's spot Bitcoin ETFs during the third quarter by adding $130 million worth of IBIT shares. He now ranks as the ninth-largest IBIT shareholder, with a total holding valued at nearly $160 million.
Other Major Investors
In addition to Jones, other prominent institutions have also expanded their positions in IBIT. Goldman Sachs notably increased its holdings by 71%, bringing its total exposure to $710 million.
Total Crypto Fund Inflows Reach $2.2 Billion Globally
Data from CoinShares
According to CoinShares, global crypto funds recorded inflows of $2.2 billion last week, with Bitcoin products accounting for the majority. However, James Butterfill, Head of Research at CoinShares, noted that the second half of the week saw outflows of $866 million, likely due to profit-taking following record inflows of $3 billion.
Summary: Bitcoin ETFs Continue to Attract Investors
Spot Bitcoin ETFs are experiencing historic growth, underscoring increased investor confidence in cryptocurrency products. Significant inflows, bolstered by Bitcoin’s record-breaking price levels, are strengthening market dynamics. Leading funds like BlackRock's IBIT and rising interest in Ether ETFs highlight the growing importance of crypto ETFs as key investment vehicles in the global market.
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