Spot Bitcoin ETFs inflows surge 220% amid options launch

Inflows into US spot Bitcoin ETFs increased by 220% on November 19 compared to the previous day; Bitcoin reached new highs following the launch of the first Bitcoin ETF trading options.

According to SoSoValue data, 12 spot Bitcoin ETFs recorded net inflows of $816.44 million on Tuesday; This is more than double the inflow recorded on Monday. Interestingly, the biggest entries of the day came from ARK and 21Shares’ ARKB. $267.34 million entered the fund, marking the highest day of inflows since launch and surpassing the $200.7 million inflow recorded on March 27.

Fidelity’s FBTC and BlackRock’s IBIT also saw significant increases in inflows, bringing in $256.15 million and $216.12 million, respectively. Bitwise’s BITB, Grayscale’s GBTC, and VanEck’s HODL also contributed to the positive momentum, with inflows of $52.75 million, $16.19 million, and $7.9 million, respectively.

Data on flows to Grayscale’s Bitcoin Mini Trust had not been updated at the time of this writing. However, the remaining BTC ETFs remained neutral on the day.

The total trading volume recorded by these ETFs on November 19 rose to $4.78 billion, significantly higher than the $3.62 billion seen the previous day.

The significant increase in inflows on Tuesday coincided with the Bitcoin price reaching an all-time high of $94,041 after BlackRock, the world’s largest asset manager, officially launched IBIT for options trading on Nasdaq. New options contracts give investors the right to buy ETF shares at predetermined prices, allowing them to speculate on price movements.

Options contracts on BlackRock’s spot Bitcoin exchange-traded fund saw nearly $2 billion in total trading volume, which may have pushed Bitcoin to its new high.

Bloomberg analyst Eric Balchunas noted in his X post that the $1.9 billion trading volume was an unprecedented figure for the first day. He compared that figure to the ProShares Bitcoin Strategy ETF, which was the first ETF in the United States to offer exposure to Bitcoin and recorded $363 million in its debut.

At press time, Bitcoin (BTC) was still changing hands at $92,112, up 0.6%.