Bitcoin ETFs see third straight day of inflows as BTC clocks new ATH

Spot Bitcoin exchange-traded funds in the US recorded inflows for the third consecutive day on November 20; While Bitcoin reached an all-time high of over $97,000, $773.47 million entered the funds.

Cumulative inflows into US Bitcoin ETFs over the past three trading days have exceeded $1.8 billion, according to SoSoValue data. This momentum comes amid growing optimism about Bitcoin’s future; Regulatory clarity appears to be improving, especially under the incoming administration of President-elect Donald Trump, who has vowed to position the United States as the “crypto capital of the planet.”

BlackRock leads the BTC ETF pack

The lion’s share of inflows on November 20 went to BlackRock’s IBIT ETF, which attracted $626.52 million in a single day. With this latest boost, BlackRock’s IBIT has now achieved cumulative net inflows in excess of $30 billion, solidifying its position as the dominant player in the Bitcoin ETF market.

Other ETFs also saw significant contributions. Fidelity’s FBTC ETF recorded inflows of $133.94 million, while ARK and 21Shares’ ARKB and Bitwise’s BITB recorded more modest inflows of $9.25 million and $3.77 million, respectively.

Data on Grayscale’s Bitcoin Mini Trust was not available, while other Bitcoin ETFs remained neutral throughout the day. Total trading volume of Bitcoin ETFs reached $5.71 billion on November 20, up sharply from $4.78 billion the previous day.

Bitcoin climbs towards $100 thousand

The price of Bitcoin increased during Asian trading hours on November 20, reaching $97,836. The cryptocurrency has more than doubled in value this year, seeing a significant 40% increase in just two weeks since Trump’s election victory.

Investors are optimistic that Trump’s pro-crypto stance and an influx of digital asset-friendly lawmakers into Congress could usher in a golden age for the sector.

Since the election, US-listed Bitcoin ETFs have attracted over $4 billion in inflows. BlackRock’s IBIT options also had a strong run this week, with call options (an indicator of bullish bets on the Bitcoin price) outpacing sell positions.

Ethereum ETFs face outflows

In stark contrast to Bitcoin’s bullish momentum, spot Ethereum ETFs recorded outflows for the fifth consecutive day on November 20, sending $30.29 million out of the funds. Fidelity’s FETH led the outflows with a $30.75 million drop, while Grayscale’s ETHE followed with a $16.29 million outflow, bringing its cumulative losses since launch to $3.29 billion.

Interestingly, BlackRock’s ETHA ETF managed to buck the trend, attracting $16.74 million in inflows, while the rest of the Ethereum-focused ETFs remained neutral.

At the time of writing, Bitcoin (BTC) was still trading at $97,659, up 5.6% in the last 24 hours. However, Ethereum (ETH) was trading sideways and its value was around $3,107.