Key Points
- US spot Bitcoin ETFs attracted massive institutional investment of $6.46 billion in November 2024, with BlackRock’s iShares Bitcoin Trust ETF leading the charge with $5.6 billion in inflows
- Bitcoin price surged 45% during November, climbing from $68,000 to reaching an unprecedented $99,000, marking a historic milestone in cryptocurrency markets
Record-Breaking ETF Inflows
According to data from Farside Investors, November proved to be a landmark month for Bitcoin ETFs, with net inflows reaching $6.46 billion. BlackRock’s iShares Bitcoin Trust ETF emerged as the dominant player, capturing approximately 87% of total monthly inflows with $5.6 billion in investments. Fidelity’s Wise Origin Bitcoin Fund followed with $962 million, while Grayscale’s Bitcoin Mini Trust ETF and VanEck Bitcoin ETF attracted $211.5 million and $71.2 million, respectively.
Market Performance and Outflows
While most ETFs experienced significant inflows, some providers faced withdrawals. Three funds recorded notable outflows: Grayscale Bitcoin Trust ETF ($364 million), Bitwise Bitcoin ETF ($40.4 million), and Valkyrie Bitcoin Fund ($6.8 million), totaling $411 million in outflows for the month.
Future Outlook
The continued influx of institutional capital amid rising Bitcoin prices suggests strong market confidence. Market analysts are projecting favorable conditions ahead, with predictions of “insane long opportunities” as Bitcoin enters a price discovery phase beyond previous historical highs.
