Spot Bitcoin exchange-traded funds in the United States saw a significant surge in inflows on Nov. 21, as Bitcoin inches closer to breaking the $100K barrier.
According to data from SoSoValue, the 12 spot Bitcoin ETFs logged $1 billion in inflows on Thursday, extending their inflow streak to four days, which netted over $2.8 billion in total inflows during this period. Notably, the inflows seen on Nov. 21 were the highest in the last eight trading days, surpassing the $1.11 billion recorded on Nov. 11.
BlackRock’s IBIT led the pack for the second consecutive day on Thursday, with $608.41 million entering the fund. BlackRock has already recorded a cumulative net inflow of $30 billion since its launch.
Fidelity’s FBTC and Bitwise’s BITB also contributed significantly, with inflows of $300.95 million and $68 million, respectively. ARK and 21Shares’ ARKB, Grayscale Bitcoin Mini Trust, Franklin Templeton’s EZBC, and VanEck’s HODL added to the positive momentum, reporting net positive flows of $17.18 million, $6.97 million, $5.7 million, and $5.56 million, respectively.
Grayscale’s GBTC was the sole outlier on the day, reporting outflows of $7.81 million, bringing its total net outflows since its launch to $20.26 billion. The remaining Bitcoin ETFs reported zero flows for the day.
Total trading volume for these ETFs stood at $7.1 billion, significantly higher than the $5.09 billion recorded yesterday. BlackRock’s IBIT alone saw a massive $5.22 billion in trading volume.
The significant inflows recorded on Thursday came as Bitcoin surpassed $99,000, setting an all-time high of $99,261—just around $3,740 shy of crossing the $100,000 price barrier. Analysts and experts predict that Bitcoin will reach this major milestone within the week, driving more investor attention toward Bitcoin ETFs.
“Bitcoin ETFs are already highly popular, and their popularity is likely to grow even further, especially after Bitcoin surpasses $100,000, bringing renewed attention from mainstream media and traders alike,” said Georgii Verbitskii, founder of TYMIO, in a statement to crypto.news.
Kadan Stadelmann, chief technology officer at Komodo Platform, explained to crypto.news that Bitcoin ETFs have little historical precedent. He noted that recent net Bitcoin ETF inflows have significantly exceeded Bitcoin’s supply issuance, highlighting its unique inelasticity.
“Clearly, investors anticipate long-term growth in Bitcoin ETFs, which are on pace to surpass gold ETFs in net assets.”
Kadan Stadelmann, chief technology officer at Komodo Platform
Ethereum ETF outflows slow down
Meanwhile, the nine spot Ethereum ETFs experienced a significant drop in net outflows, with $9.05 million in outflows recorded on Nov. 21, compared to $33.47 million the previous trading day.
The majority of the outflows on the day came from Grayscale’s ETHE, which saw $27.08 million exit the funds. Grayscale Ethereum Mini Trust also reported $4.11 million in outflows.
These outflows were partially offset by inflows into Fidelity’s FETH, Bitwise’s ETHW, and VanEck’s ETHV, which recorded inflows of $16.79 million, $2.89 million, and $2.46 million, respectively.
Verbitskii suggested that Ethereum might enter its strongest phase in the future, particularly if regulatory conditions improve, potentially “under a Trump administration.” He noted that the DeFi ecosystem has faced regulatory pressures that have hindered its growth. With a clearer regulatory framework, an ETH ETF could see “accelerated adoption.”
At press time, Bitcoin (BTC) was up 1.8% in the last 24 hours, trading at $98,945. Ethereum (ETH) saw much higher gains of 8.1%, exchanging hands at approximately $3,369.
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