Bitcoin ETFs break record with $1.38b inflows led by BlackRock’s IBIT

On November 7, US spot Bitcoin ETFs recorded a historic net inflow of $1.38 billion; This marks the highest single-day inflow since its inception, driven primarily by BlackRock’s IBIT.

BlackRock’s spot Bitcoin ETF alone accounted for $1.12 billion of total net inflows for the day, according to data from SoSoValue; this was a historic high, reversing outflows of $113.3 million in the previous two days.

IBIT’s inflows accounted for more than 81% of the $1.38 billion total net inflows recorded across 11 U.S.-listed spot Bitcoin ETFs that day.

After IBIT, Fidelity’s FBTC had the second largest inflow of $190.92 million, after leading ETFs with inflows of $308.8 million the previous day.

Other Bitcoin ETFs contributing net inflows include:

Grayscale Bitcoin Mini Trust: $20.38 million ARK and 21Shares’ ARKB: $17.61 million Bitwise’s BITB: $13.36 million VanEck’s HODL: $4.34 million Valkyrie ‘s BRRR: $2.17 million

The remaining four Bitcoin ETFs reported zero flows on the day.

Total trading volume across 12 spot Bitcoin ETFs reached $2.76 billion on November 7; This is significantly lower than the $6.07 billion recorded the previous day.

On November 6, Bloomberg ETF analyst Eric Balchunas noted that in the immediate aftermath of Donald Trump’s election victory on November 5, IBIT alone saw approximately $1.1 billion in trading volume in the first 20 minutes after the market opened.

With inflows on November 7, cumulative net inflows across all 12 Bitcoin ETFs have reached $24.79 billion since their respective launches.

The record inflows coincided with Bitcoin (BTC) continuing to rise to all-time highs; At the time of writing, CoinGecko data showed a peak price of $76,872 before a slight pullback to $76,027.

In the midst of Bitcoin’s price discovery phase, investors are expecting more significant entries in the coming days.

“Expect another big day tomorrow,” predicted crypto trader The Bitcoin Therapist.

Balchunas, who predicted a significant inflow based on trading volume trends, expressed surprise at the record-breaking scale of inflows on November 7.

“I told y’all this was probably going to be big, but even I was surprised at how big it was – by far the largest one-day inflow of any BTC ETF ever,” Balchunas wrote in a Nov. 7 post on X.

On November 8, Nate Geraci suggested that this influx may be due in part to crypto-native investors switching from holding Bitcoin directly to ETF positions almost ten months after launch.