Institutional investors are back with a record Bitcoin ETF inflow of $1.4 billion

All eleven spot Bitcoin ETFs in the US posted a record day of inflows, as $1.37 billion flowed into institutional investment products on November 7.

The massive inflow comes as Bitcoin hit a new all-time high below $77,000 after Donald Trump won the presidential election this week and the U.S. central bank cut rates again.

The total invested in Bitcoin ETFs at the moment has now reached $25.5 billion, according to Farside Investors.

A record $1.4M in spot btc ETFs today…

Now $25.5 million in net receipts since January launch.

Keep rewriting the ETF history books.

And remember, these are not yet fully available on most major wiring platforms (or at all on Vanguard).

— Nate Geraci (@NateGeraci) November 8, 2024

Bitcoin ETF Mania

BlackRock’s industry-leading IBIT fund saw inflows of $1.12 billion in just one day on November 7. It is the highest fund flow day for the product since it launched in January, bringing total fund flows to $27 billion.

According to its official website, the BlackRock iShares Bitcoin Trust has assets under management of $32.8 billion out of 432,674 BTC holdings.

On Nov. 8, Bloomberg senior ETF analyst Eric Balchunas exclaimed, “I told you it would probably be big, although I’m even surprised it’s that big, by far the flow of ‘biggest day of any BTC ETF ever’.

The record entry day reverses a two-day trading-day outflow trend for IBIT, which saw $113 million exit from the ETF. The day’s only other notable inflow was $191 million in Fidelity’s Bitcoin ETF ( FBTC ). Bitwise, Ark 21Shares and Grayscale also saw smaller inflows ranging from $13 million to $20 million.

Around $2 billion has flowed into spot Bitcoin ETFs in the US over the past two days as BTC surged to an all-time high on November 7 and crypto markets remain bullish.

good morning,

Yesterday’s Bitcoin ETF inflows hit a new high with $1.373.8 billion inflows.

Blackrock earned $1,119.9 million and Fidelity $190.9 million.

The price went from $75,000 to $76,500 now, sitting at $75,700. As I mentioned yesterday, these Blackrock streams… pic.twitter.com/wESL0v8K5B

— WhalePanda (@WhalePanda) November 8, 2024

Ethereum ETFs waking up

The nine Ethereum ETFs also had a big day of inflows, with the biggest since Aug. 6 at $79.7 million. Funds BlackRock ( ETHA ) and Fidelity ( FETH ) got the lion’s share of those inflows, with $23.7 million and $28.9 million, respectively.

While these numbers are small compared to BTC ETF flows, it should be noted that Ethereum’s price and market cap is still a fraction of its big brother.

The large inflow of ETH ETFs has reduced the total flow to negative $410 million, which is due to the ongoing exodus of Grayscale’s high-fee ETHE fund.

However, the past three days have seen zero departures, indicating that the exodus may be slowing. Ether ETFs could be about to take off, especially if the underlying asset continues to rise.

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