Spot Bitcoin ETFs continued their positive inflows for the second week in a row, recording net inflows of $510.11 million on November 13. This coincided with Bitcoin’s price crossing the $93,000 mark for the first time.
According to data from SoSoValue, the 12 spot bitcoin exchange-traded funds (ETFs) saw a combined $4.73 billion inflows during the week ending Nov. 13. BlackRock’s IBIT fund maintained its lead, recording $230.81 million inflows on Thursday. Since its launch, IBIT has attracted more than $29.15 billion, bringing BlackRock’s total assets under management to $42.56 billion.
BlackRock’s IBIT fund has seen massive growth in assets, surpassing $40 billion just two weeks after hitting $30 billion, Bloomberg analyst Eric Balchunas noted in a previous tweet on the X platform. The rapid growth shatters the previous record, which was taken by BlackRock’s own IEMG fund to reach that level, which was 1,253 days.
“IBIT now ranks among the top 1% of the world’s largest ETFs by assets,” Balchunas explained. “Moreover, in just 10 months, IBIT has surpassed the total assets of all ETFs launched over the past decade, which number around 2,800.”
Meanwhile, November 13 saw record trading volume across the 12 spot Bitcoin ETFs, with a total of $8.07 billion in trading volume. BlackRock’s IBIT fund contributed significantly to the figure, recording a record $5.37 billion in trading volume, the highest since its launch. Fidelity also recorded $1 billion in trading volume, its highest since March.
This surge in trading volumes came as Bitcoin’s price hit a new record high of $93,477. This surge has attracted more investors to Bitcoin ETFs. Digital assets in general have seen a sharp rise since Trump’s victory in the US presidential election, surpassing their previous record highs several times over.
In the same vein, the nine Ethereum spot ETFs continued to attract new investment for the sixth consecutive day, recording inflows of $146.89 million on November 13. Fidelity’s FETH accounted for the largest share of inflows, at $101.72 million. BlackRock’s ETHA, Bitwise’s ETHW, and Grayscale Ethereum Mini Trust also contributed strong amounts.
On the other hand, Grayscale’s ETHE fund, the only fund to see withdrawals, saw $5.6 million out. The remaining funds remained stable.
Over the past week, these funds have collectively received over $800 million, with the last three days being the strongest since their launch. Consequently, net inflows turned positive, reaching $241.51 million.
