On November 12, Bitcoin ETFs continued to see strong inflows despite the drop in Bitcoin prices. The crypto market is under the influence of factors causing both growth and declines.
Inflows into Bitcoin ETF
According to SoSoValue data, net inflows into 12 Bitcoin ETFs amounted to $817.54 million. Leading the group was BlackRock’s IBIT fund with an inflow of $778.2 million, taking its cumulative net inflows to a record $28.92 billion. This inflow is part of the positive market sentiment spurred by Donald Trump's re-election.
Net Outflows and Market Volatility
Funds such as Grayscale’s GBTC and ARK 21Shares’ ARKB experienced net outflows of $17.79 million and $5.36 million respectively. This contrasts with previous days when all 12 funds had positive flows. The shift is due to Bitcoin's price dropping more than 5%.
Rise in Ethereum ETF Investments
Parallel to Bitcoin ETF activity, Ethereum ETFs also enjoyed inflows, with a net addition of $131.92 million on November 12. This enhanced inflow marks the fifth consecutive day of increased investment. The leader in this was BlackRock's ETHA, with $131.45 million.
Despite fluctuations in cryptocurrency prices, Bitcoin and Ethereum ETFs continue to attract substantial investment. Their market performance indicates ongoing investor interest in cryptocurrencies as an asset class.
