Institutional Investors Are Back With Record $1.4B Bitcoin ETF Inflow 

The eleven spot Bitcoin ETFs in the US saw a record inflow day as $1.37 billion in inflows entered the institutional investment products on Nov. 7.

The massive inflow comes as Bitcoin notched a new all-time high just below $77,000 in the wake of Donald Trump’s presidential election victory this week and as the US central bank reduced rates again.

The total invested in spot Bitcoin ETFs has now reached $25.5 billion, according to Farside Investors.

A record $1.4bil into spot btc ETFs today…

Now $25.5bil net inflows since January launch.

Continue to rewrite ETF history books.

And remember, these still aren’t fully available on most large wirehouse platforms (or at all on Vanguard).

— Nate Geraci (@NateGeraci) November 8, 2024

Bitcoin ETF Mania

BlackRock’s industry-leading IBIT fund saw a whopping $1.12 billion in inflows – in just one day on Nov. 7. It is the highest fund flow day for the product since it launched in January, bringing the total fund flows to $27 billion.

According to its official website, the BlackRock iShares Bitcoin Trust has assets under management of $32.8 billion from 432,674 in BTC holdings.

On Nov. 8, Bloomberg senior ETF analyst Eric Balchunas exclaimed, “Told y’all it was probably gonna be big, although even I am surprised it’s that big, by far biggest one-day flow of any BTC ETF ever.”

The record inflow day reverses a two-trading-day trend of outflows from IBIT, which saw $113 million leaving the ETF. The only other notable inflow for the day was $191 million in Fidelity’s Bitcoin ETF (FBTC). Bitwise, Ark 21Shares, and Grayscale also saw minor inflows ranging between $13 million and $20 million.

Around $2 billion has entered spot Bitcoin ETFs in the US over the past two days as BTC surged to an all-time high on Nov. 7, and crypto markets remain bullish.

Good morning,

Yesterday’s Bitcoin ETF inflows have reached a new high with $1,373.8 million of inflows.

Blackrock did $1,119.9 million and Fidelity $190.9 million.

Price went from $75k to $76.5k now, sitting back at $75.7k. As I mentioned yesterday those flows from Blackrock… pic.twitter.com/wESL0v8K5B

— WhalePanda (@WhalePanda) November 8, 2024

Ethereum ETFs Waking Up

The nine spot Ethereum ETFs also saw a huge inflow day, with the largest since August 6 at $79.7 million. BlackRock (ETHA) and Fidelity (FETH) funds garnered the lion’s share of those inflows, with $23.7 million and $28.9 million, respectively.

Although these figures are small compared to the BTC ETF flows, it should be noted that Ethereum’s price and market capitalization are still a fraction of its big brother’s.

The big ETH ETF inflow has reduced the total flow to a negative $410 million, which is due to the ongoing exodus from Grayscale’s high-fee ETHE fund.

Nevertheless, zero outflows have been seen for the past three days, indicating that the exodus may be abating. Ether ETFs could be poised to take off, especially if the underlying asset keeps climbing.