Bitcoin experienced a significant price surge to nearly $90,000 in early November, prompting a massive influx of funds into spot Bitcoin exchange-traded funds (ETFs) in the United States. From November 6 to 11, investments into spot Bitcoin ETFs totaled $2.6 billion. This rally was driven by positive market sentiment and fear of missing out, leading both retail and institutional investors to increase their Bitcoin holdings. BlackRock's iShares Bitcoin Trust saw the most substantial inflow, attracting over $2 billion, followed by Fidelity’s Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and ARK 21Shares Bitcoin ETF with inflows of $668.3 million, $180 million, and $253.2 million, respectively. Additionally, the Grayscale Bitcoin Trust, which had previously experienced significant outflows, recorded a net inflow of $219.8 million during the same period. The positive momentum also extended to spot Ether ETFs, which saw their highest daily inflows since launching in July.

Source 🔗