Bitcoin ETFs See $812M in Net Flows as BlackRock ETF Options Attract ‘Unheard of’ Volume

Published November 20, 2024 11:33 AM

By Eddie Mitchell

Edited by Insha Zia

BlackRock executives celebrating iShares launch on Nasdaq exchange.

BlackRock's Bitcoin ETF dominates the markets. (Photo by Stephanie Keith/Getty Images)

Key Takeaways

U.S. spot Bitcoin ETFs command $98.38 billion in BTC or 5.38% of its market cap.
BlackRock’s IBIT posted a record-setting $4.28 billion in total value traded on Nov. 19.
Bitcoin has hit a new all-time high following BlackRock’s ETF options trading launch.

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) have posted almost a billion in net inflows following a brief two-day selloff at the end of last week.

Bolstering flow results and pushing BTC to record prices, the launch of options trading on BlackRock’s $44 billion behemoth BTC ETF has recorded “unprecedented” trading volumes on its first day.

Bitcoin ETFs

As per SoSoValue , Bitcoin ETFs are back on track with an impressive $824.22 million in net inflows for Nov. 19, 2024.

Leading today’s gainers, the ARK 21Shares Bitcoin ETF (ARKB) captured a sizeable $267.34 million in net inflows. It’s closely followed by the second-best-performing BTC ETF, Fidelity’s Wise Origin Bitcoin Fund (FBTC), which netted $256.15 million.

BlackRock’s iShares Bitcoin Trust (IBIT) has taken an uncommon third position in today’s rankings, recording $216.12 million in net inflows.

With a cumulative net inflow of $29.58 billion, IBIT stands leagues above its competitors. Notably, put and call options on IBIT were just enabled, which saw a total of $4.28 billion in total value traded for IBIT.

Bitwise’s Bitcoin ETF (BITB) posted a modest $52.75 million in net inflows, and the Grayscale Bitcoin Trust (GBTC) netted a humble $16.19 million. Unfortunately for Grayscale, these meager and occasional inflows have a long way to go before they can reverse the $20.25 billion in cumulative outflows from GBTC.

Finally, the VanEck Bitcoin ETF (HODL) netted a cool $7.9 million, as did the Valkyrie Bitcoin Fund (BRRR), which had $7.78 million in net inflows.

BlackRock’s ETF Options

BlackRock’s iShares Bitcoin Trust (IBIT) recorded billions in “unprecedented” exposure on its first day of trading.

UPDATE: Final tally of $IBIT 's 1st day of options is just shy of $1.9 billion in notional exposure traded via 354k contracts. 289k were Calls & 65k were Puts. That's a ratio of 4.4:1. These options were almost certainly part of the move to the new #Bitcoin all time highs today pic.twitter.com/IN3s9hajJ2

— James Seyffart (@JSeyff) November 19, 2024

The vast volumes were placed across 354,000 contracts. The data shows that investors were bullish on their predictions, as just over $6 million was wagered on BTC’s value near-doubling in a month.

The roaring success of its options offering has resulted in IBIT recording $4.28 billion in value traded on Nov. 19, a number typically seen when combined with the flows of other high-performing funds and not just a solo effort.

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About the Author

Eddie Mitchell

Eddie has been writing news and content primarily for crypto news and industry players over the past seven years. With an eye for the bigger picture, Eddie prefers to investigate the broader implications of a story, as well as explore the weird and wonderful world of crypto. He believes blockchain has already changed the world, but observes the space overall with a skeptical and adoring eye.

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