Bitcoin and Ethereum ETFs pull enormous inflows.
(Photo by Spencer Platt/Getty Images)
Share
Key Takeaways
BTC ETFs command $90.6 billion in net assets or 5.27% of BTC’s market cap.
Bitcoin has climbed over 27% in the past 7 days and is trading at all-time-high prices above $87,000.
ETH ETFs hold $9.27 billion in net assets or 2.42% of ETH’s market cap.
U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have pulled over $1.4 billion in combined net inflows on Nov. 11 as funds ride the market high.
As the bull market continues to gather momentum, eyes are on ETH ETFs, which have pulled record-breaking inflows and unwinding months of mixed flows.
As per SoSoValue, Bitcoin ETFs raked a gigantic $1.11 billion in total net inflows on Nov. 11, 2024, marking day four of a record-breaking inflow streak.
Since Nov. 6, BTC ETFs have pulled over $3 billion in net inflows.
Bitcoin ETF flows. Source: SoSoValue
BlackRock’s iShares Bitcoin Trust (IBIT) leads the flows with $756.45 million in net inflows, raising its cumulative net inflows total to $28.14 billion. IBIT commands a total of $39.92 billion in net assets or 2.32% of BTC’s market cap.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) pulled $135.07 million, raising its cumulative net inflows to $10.9 billion. This places FBTC as the second-best-performing fund under IBIT. With $16.73 billion in net assets, it will soon surpass Grayscale.
ARK 21Shares Bitcoin ETF (ARKB) took in $108.62 million, followed by the Bitwise Bitcoin ETF (BITB) which bagged $42.66 million.
The Grayscale Bitcoin Trust (GBTC) relished some modest gain, tallying $24.23 million in net inflows. However, the fund has a long way to go if it hopes to undo the sore $20.16 billion in cumulative net outflows it’s accrued since launch.
As for the smaller gainer, the Franklin Templeton Digital Holdings Trust (EZBZ) captured $10.09 million of the day’s flows, and finally, the Invesco Galaxy Bitcoin ETF (BTCO) recorded a modest $8.7 million in net inflows.
Ethereum ETFs
As per SoSoValue data, Ethereum ETFs are on a major winning streak and posted $295.48 million in net inflows on Nov. 11, their biggest day of inflows ever.
Ethereum ETF flows. Source: SoSoValue
Capturing the lion’s share, Fidelity’s Ethereum Fund (FETH) bagged an impressive $115.48 million, its largest single day of inflows.
Following closely behind, BlackRock’s leading ETH fund, the iShares Ethereum Trust (ETHA), bagged $101.11 million, raising its cumulative net inflows to $1.54 billion.
The Grayscale Ethereum Mini Trust has seen its biggest inflows to date, tallying a solid $63.32 million. Finally, The Bitwise Ethereum ETF (ETHW) secured $15.57 million.
In the weeks prior, Ethereum ETFs were beginning to show signs of promise as the inflow and outflow rates were, more or less, balancing each other out.
Since late July, ETH ETFs’ cumulative total net inflows have been negative, ranging between—$400 and—$600 million on average. As of Nov. 11, this figure now sits at—$41.3 million, the lowest since July.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
