Bitcoin ETFs See Record $1.38B Inflow Following Fed’s Rate Slash

• Bitcoin ETFs witnessed a record $1.38 billion in net inflows on Nov. 7.
• Ethereum ETF inflows slowed.
• Total assets under management in Bitcoin ETFs reached $34.29 billion, with Ethereum ETFs at $1.39 billion.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) recorded remarkable inflows on Nov. 7, as investors reacted to the U.S. Federal Reserve’s decision to cut interest rates by 25 basis points.

Bitcoin ETFs

As per SoSoValue, Bitcoin ETFs commanded a record-breaking $1.38 billion in total net inflows  on Nov. 7, the U.S. Federal Reserve cut interest rates by 25 basis points.

The BTC ETF market saw a major surge in one-day inflows on Nov. 7, led by BlackRock’s iShares Bitcoin Trust (IBIT), which bagged an astonishing $1.12 billion in net inflows.

IBIT’s cumulative inflow now stands at $27.18 billion, with total assets under management reaching $34.29 billion.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) also saw a notable one-day inflow of $190.9 million, further pushing its cumulative net inflow to $10.73 billion.

With $14.58 billion in total net assets, FBTC remains a substantial player in the Bitcoin ETF space.

Other notable inflows include Grayscale’s BTC ETF (GBTC), with a $20.4 million one-day inflow, and the ARK 21Shares Bitcoin ETF (ARKB), adding $17.6 million in one-day inflows.

Ethereum ETFs

Among Ethereum ETFs, Fidelity’s Ethereum Fund (FETH) led in one-day inflows with a strong $28.9 million on Nov. 7. This amount boosted FETH’s cumulative net inflows to $538.9 million, with net assets standing at $526.6 million.

Hot on its heels was BlackRock’s iShares Ethereum Trust (ETHA), which saw a notable inflow of $23.7 million. This pushed ETHA’s total net inflows to $1.38 billion, with net assets climbing to $1.39 billion. ETHA also experienced a solid daily performance, rising by 7.9%.

VanEck’s Ethereum ETF (ETHV) also garnered attention, securing a $12.7 million one-day inflow, which raised its total cumulative inflows to $89.4 million and net assets to $95.3 million.

However, despite the strong inflows, total trading volume on Nov. 7 was $79.7 million, reflecting a dip from the previous day as traders waited for the Federal Reserve’s decision before making any major moves.