US Spot Bitcoin, Ethereum ETFs See Record $7.6 Billion Net Inflows For November

Exchange-traded funds invested in Bitcoin and Ethereum in the US are seeing record net inflows, following a bullish November that saw crypto-friendly President-elect Donald Trump take the White House.

With post-election momentum driving institutional adoption, cumulative flow data indicates steady growth since March 2024.

The nature of these inflows signals a maturing market in which ETFs are increasingly becoming the vehicle of choice for traditional financing to gain Bitcoin exposure.

According to aggregated data from SoSoValue and CoinGlass, USA spot Bitcoin And Ethereum ETFs have seen monthly net inflows of more than $7.54 billion.

That’s more than $1.5 billion compared to February’s record high of $6.03 billion for Bitcoin ETFs.

Ethereum spot ETFs in particular, which went live for trading in July, are gaining traction, hitting records between November 25 and November 29 with net inflows of $467 million – most of which comes from BlackRock’s ETHA, which represents $300 million.

Changing tides for Ethereum

Comparing daily total net inflows, Bitcoin spot ETFs made $320 million, while Ethereum ETFs made $332 million, though the latter only has roughly $11 billion in net assets, compared to Bitcoin spot ETFs, which have almost 10 times in net assets having more than $105. billion.

Ether outpaced Bitcoin’s price movement during the last week of November, rising 15% compared to Bitcoin’s modest 1.7% decline over the same period, according to data from CoinGecko.

However, a comparison between Ethereum’s price and Bitcoin’s fully diluted valuation reveals the fundamental supply-side limitations. Ethereum would need to reach $16,673 (up 4.61x) to match Bitcoin’s total addressable market cap of $2 trillion.

Bitcoin ETFs maintain their dominance

BlackRock’s iShares Bitcoin Trust (IBIT) continues to dominate Bitcoin spot ETFs, accumulating $48 billion in market cap flows since launch. facts of CoinGlass shows.

Grayscale’s Bitcoin ETF (GBTC) follows with $20.9 billion, although this is closely followed by Fidelity’s Bitcoin ETF (FBTC) with $19 billion.

The increase in ETF adoption comes as Bitcoin is worth almost $96,000, which is approaching but not yet breaking the psychological barrier of $100,000.

“Bitcoin’s dominance has fallen 5% over the past 12 days, remaining below the June 2023 positive trendline,” Valentin Fournier, digital asset analyst at Singapore-registered market intelligence firm Bread News, told reporters. Declutter in an email.

“With significant resistance at $100,000, the market is seeing a capital shift towards altcoins, supported by increasing liquidity.”

Edited by Sebastian Sinclair