From November 11 to 15, Bitcoin and Ethereum spot ETFs recorded substantial inflows. Bitcoin spot ETFs received $1.67 billion in net inflows, while Ethereum spot ETFs achieved a record weekly inflow of $515 million. BlackRock’s IBIT and ETHA funds led the market, dominating inflows in both categories.
Bitcoin spot ETF had a net inflow of 1.67 billion US dollars from November 11 to November 15 last week, with net inflows for six consecutive weeks. BlackRock ETF IBIT had a weekly net inflow of 1.89 billion US dollars.https://t.co/YanotfbWiJ pic.twitter.com/QBGdsu1szu
— Wu Blockchain (@WuBlockchain) November 18, 2024
Bitcoin spot ETFs have now recorded six consecutive weeks of positive inflows. Last week, BlackRock’s IBIT ETF alone attracted $1.89 billion, boosting total Bitcoin ETF net assets to $95.41 billion. This figure accounts for 5.27% of Bitcoin’s market cap, reflecting increased institutional interest in cryptocurrency-backed funds.
ETH spot ETFs also received increased attention, with the latter recording a record weekly inflow. BlackRock’s ETHA ETF attracted $287 million, and Fidelity’s FETH ETF attracted $199 million. The total net assets of Ethereum ETFs increased to $9.15 billion, which is 2.46% of Ethereum’s market capitalization. This growth also shows Ethereum’s appeal among investors as the second-largest cryptocurrency by market cap.
Ethereum spot ETF had a weekly net inflow of $515m from November 11 to November 15, reaching a record high for a single week. Blackrock ETF ETHA had a weekly net inflow of $287m, and Fidelity ETF FETH had a weekly net inflow of $199m.https://t.co/Tvs2oCSxTg pic.twitter.com/W6eI4f9mmD
— Wu Blockchain (@WuBlockchain) November 18, 2024
BlackRock is the largest asset manager worldwide, providing sound and secure products and maintaining interest from institutional and individual investors. Its transparency in operation has positioned it as one of the leading firms issuing ETF products.
The recent spike in Bitcoin and other altcoins further boosted the adoption of ETFs. Last week, Bitcoin reached a peak of $93,434.36, and Ethereum hovered around $3,090, allowing investors to be more confident about the upcoming bull run.
CFTC Approves Clearing of Options on Spot Commodity ETFsThe growing adoption of cryptocurrencies and mainstream financial products like ETFs has fueled institutional involvement. Weekly data shows consistent increases in Bitcoin and Ethereum ETF net assets. BlackRock’s IBIT and ETHA funds continue to outperform competitors, capturing a significant share of inflows in both categories.
The continuous positive trend in the inflows to crypto ETFs is clear evidence that institutional investors are in demand for digital assets. Bitcoin and Ethereum’s performance, combined with BlackRock’s dominance, signals the growing acceptance of cryptocurrencies as a legitimate asset class.
