Bitcoin ETFs see record trading volume amid BTC all-time high

Spot Bitcoin exchange-traded funds in the United States continued their positive inflow streak for the sixth consecutive day, recording net inflows of $510.11 million on Nov. 13 as Bitcoin surpassed $93,000 for the first time.

According to data from SoSoValue, the 12 spot Bitcoin ETFs logged net inflows of $4.73 billion over the six straight days of trading ending on Nov. 13. BlackRockโ€™s IBIT led the group for the fifth consecutive day on Thursday with inflows of $230.81 million. Notably, IBIT has seen over $29.15 billion in net inflows since its launch, bringing the total net assets held by BlackRock to $42.56 billion.

Bloomberg analyst Eric Balchunas noted in an earlier X post that BlackRockโ€™s IBIT hit $40 billion in assets just two weeks after reaching $30 billion, breaking the previous record of 1,253 days held by BlackRockโ€™s IEMG. He added that the ETF is now ranked in the top 1% of all ETFs by assets and, at just 10 months old, is already larger than all 2,800 ETFs launched in the past decade.

Fidelityโ€™s FBTC also contributed with inflows of $186.07 million on Thursday, extending its five-day streak. Notably, none of the ETFs experienced outflows on the day. Inflows are as follows:

  • Grayscale Bitcoin Mini Trust: $61.3 million
  • ARK and 21Sharesโ€™ ARKB: $14.47 million
  • Bitwiseโ€™s BITB: $12.33 million
  • VanEckโ€™s HODL: $5.12 million

Total trading volume seen by the 12 spot Bitcoin ETFs reached a record $8.07 billion on Nov. 13, with BlackRockโ€™s IBIT alone recording $5.37 billion in volume, its largest since launch, and Fidelity recording $1 billion in volume, its biggest day since March.

The significant inflows seen on Nov. 13 came as Bitcoin, the flagship crypto, rallied to a new all-time high of $93,477 on Thursday, driving more investor interest into Bitcoin ETFs. The volatile digital asset has surged considerably since Trump won last weekโ€™s U.S. presidential election, beating its previous record highs multiple times.

At press time, Bitcoin (BTC) was still up 3.9%, exchanging hands at $90,032.

Ether hits six-day inflow streak

The nine spot Ethereum ETFs recorded their sixth consecutive day of inflows, with $146.89 million flowing into the funds on Nov. 13. The majority of inflows went to Fidelityโ€™s FETH, which recorded $101.72 million. BlackRockโ€™s ETHA, Bitwiseโ€™s ETHW, and Grayscale Ethereum Mini Trust contributed $35.63 million, $13 million, and $2.15 million, respectively.

Grayscaleโ€™s ETHE, the only ETH ETF to record outflows on the day, saw $5.6 million withdrawn from the fund. The remaining Ether ETFs remained neutral.

Over the last six trading days, these ETFs have seen over $800 million in total net inflows, with the last three days marking the top three individual inflow days since launch. The cumulative net inflows have now turned positive at $241.51 million.

At press time, Ethereum (ETH) was also up 2.3%, trading at $3,231 per coin.

Original

Spread the love

Related posts

Leave a Comment