Bitcoin ETFs See Record $1 Billion Inflows
November 22, 2024
Bitcoin ETFs saw a significant jump in inflows on November 21 as the cryptocurrency approached the $100,000 barrier, reflecting a significant increase in investor interest.
According to data from SoSoValue, the ETFs attracted inflows of $1 billion in just one day, extending the streak of positive inflows to four consecutive days, bringing the total inflows to over $2.8 billion during the period.
The inflows on Nov. 21 were the highest in the last eight trading days, beating the previous record of $1.11 billion on Nov. 11. The BlackRock IBIT Fund was the top beneficiary, recording inflows of $608.41 million, bringing its total net inflows to $30 billion since inception.
Other funds like Fidelity’s FBTC and Bitwise’s BITB also played a major role in the growth, with inflows of $300.95 million and $68 million, respectively. ARK’s ARKB, 21Shares, Grayscale Bitcoin Mini Trust, Franklin Templeton’s EZBC, and VanEck’s HODL also added positive momentum, recording net inflows ranging from $5.56 million to $17.18 million.
In contrast, Grayscale's GBTC fund recorded outflows of $7.81 million, bringing its total outflows since launch to $20.26 billion.
In terms of trading volume, the total trading volume of these funds reached $7.1 billion, recording a significant increase compared to $5.09 billion the previous day. The most traded fund was BlackRock’s IBIT fund, with a volume of $5.22 billion.
These massive inflows coincided with Bitcoin hitting a record high of $99,261, bringing it close to breaking the $100,000 barrier. With expectations that the digital currency may reach this historic achievement in the coming days. Read also:
Gensler's resignation, China's decision, and US congressman's call push Bitcoin to new high
Japanese company Metaplanet intends to issue new bonds to buy more Bitcoin!
