U.S. spot Bitcoin exchange-traded funds (ETF) products recorded massive inflows on Tuesday to almost $676 million, nearly doubling Monday's $353.7 million.
BlackRock Leads the Charge in ETF Surge
According to data from SoSoValue, the total net assets held by various asset managers behind the U.S. spot BTC ETF contracts reached $104.25 billion, approximately 1,076,609.7 BTC. Leading the asset holders is BlackRock's iShares Bitcoin Trust ETF (IBIT) with $693.25 million of net capital inflow, followed by Fidelity Wise Origin Bitcoin Fund with $52.17 million. Despite the inflow, ARK 21Shares Bitcoin ETF (ARKB) lost $93.5 million on Tuesday.
Can ETF Surge Signal Broader Adoption
The impressive performance of ETF products pushed the November net inflow to $7.6 billion, attributed to Donald Trump’s recent election victory. Analysts believe this may lead to pro-crypto policies. Increased investor interest has made Bitcoin ETF attractive to institutional investors, potentially triggering moves in other sectors, as shown by Tether's $45 million crude oil funding.
Global Confidence in Bitcoin ETFs Grows
Beyond the U.S., three Bitcoin spot ETF products on the HKEX in Hong Kong set a new trading volume record in November 2024. They registered monthly trading volumes of $154 million or 1.2 billion HKD, including ChinaAMC Bitcoin ETF, Bosera Hashkey BTC ETF, and Harvest Bitcoin Spot ETF. This signals rising confidence and interest in Bitcoin-related products worldwide.
The growing interest in Bitcoin ETFs in the U.S. and globally emphasizes the importance of cryptocurrencies in modern finance. As adoption increases, further positive developments are expected in this area.
