BlackRock’s IBIT maintains strong inflows of $778.2m despite Bitcoin price correction

BlackRock’s IBIT fund continued to see strong inflows for a fourth consecutive day, with $778.2 million flowing into the fund on November 12, while other ETFs experienced a slowdown as Bitcoin fell below $86,000.

According to data compiled by SoSoValue, 12 spot Bitcoin ETFs recorded net inflows of $817.54 million on Tuesday, extending their inflow streak to five consecutive days and bringing total accumulated inflows to over $4.2 billion. The increase in investments appears to be largely due to the wave of market optimism following Donald Trump’s re-election in the US, which has had a positive ripple effect on investor sentiment in the crypto space.

BlackRock’s IBIT fund led inflows of $778.27 million, bringing its cumulative net inflow to a record $28.92 billion since inception. While other Bitcoin ETFs have reported more modest gains or, in some cases, outflows, the fund’s pattern of consistent inflows demonstrates its appeal as a preferred Bitcoin ETF option.

Fidelity’s FBTC, Grayscale Bitcoin Mini Trust, and VanEck’s HODL contributed additional, albeit smaller, inflows with $37.2 million, $15.08 million, and $10.13 million, respectively.

In contrast, Grayscale’s flagship GBTC and ARK 21Shares’ ARKB experienced net outflows of $17.79 million and $5.36 million on the same day. This marks a notable change from the previous day, which saw positive flows across all 12 Bitcoin ETFs and coincided with a record-high daily trading volume of $7.31 billion.

These shifts reflect market participants adjusting to recent price swings, as Bitcoin fell more than 5% from $89,900 on Tuesday to near $85,500.

Bloomberg analyst Eric Balchunas praised the performance of Bitcoin ETFs, noting that total assets under management for Bitcoin ETFs exceeded $90 billion, reaching 72% of the asset levels of gold ETFs.

At the time of writing, Bitcoin (BTC) has recovered slightly from the day’s previous decline, trading at around $86,917, down 1.7% in the 24-hour period.

Ethereum ETFs record inflows of $131.9 million

In parallel with Bitcoin ETF activity, spot Ethereum ETFs also experienced continuous inflows, totaling net additions of $131.92 million on November 12. This activity represents the fifth consecutive day of net inflows into Ethereum funds, which accumulated $649 million last week.

November 11, in particular, marked a record single-day inflow for spot Ethereum ETFs of $295.48 million.

BlackRock’s ETHA led among Ethereum ETFs on Tuesday, recording inflows of $131.45 million, followed by Bitwise’s ETHW, which attracted $16.98 million.

Other Ethereum ETFs such as Grayscale’s Ethereum Mini Trust, VanEck’s ETHV, and 21Shares’ CETH received inflows of $12.71 million, $6.02 million, and $1.97 million, respectively. However, Grayscale’s ETHE recorded net outflows of $33.21 million, limiting overall Ethereum ETF inflows.

According to the latest data, the price of Ethereum (ETH) traded at $3,151, down 5.4% in the last 24 hours.