On November 19, a significant surge in inflows into spot Bitcoin ETFs in the U.S. was observed, coinciding with new all-time highs in Bitcoin prices.
Growth of Spot Bitcoin ETFs
According to data from SoSoValue, 12 spot Bitcoin ETFs recorded net inflows of $816.44 million, more than twice the previous day's totals. The largest inflows were to ARK and 21Shares’ ARKB fund, with $267.34 million. Notable increases were also seen in Fidelity’s FBTC and BlackRock’s IBIT funds with $256.15 million and $216.12 million, respectively.
Options Trading Launch
The sharp increase aligns with Bitcoin's price hitting a new record of $94,041 following BlackRock's official launch of IBIT options trading on the Nasdaq. These options contracts give investors the right to trade ETF shares at predetermined prices, allowing speculation on price movements.
Expert Analysis and Forecasts
Bloomberg analyst Eric Balchunas remarked that the $1.9 billion in trading volume was unprecedented for the first day. He compared this to the ProShares Bitcoin Strategy ETF, the first U.S. ETF to offer Bitcoin exposure, which had recorded $363 million on its debut.
The data indicates significant shifts in the Bitcoin ETF industry, potentially impacting the future development of the cryptocurrency market.
