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A dozen Bitcoin ETFs in the U.S. have attracted $6.2 billion in November, nearing a monthly inflow record as Bitcoin hovers near $100,000.
Spot Bitcoin exchange-traded funds are on track for their strongest month yet, with $6.2 billion in inflows so far in November, bolstered by Bitcoin’s surge toward $100,000 and President-elect Donald Trump’s crypto-friendly agenda, Bloomberg reports.
The inflows coming to such ETFs issuers as BlackRock and Fidelity, are set to surpass the previous record of $6 billion achieved in February, the report reads, noting that Bitcoin is nearing the $100,000 milestone.
The capital influx comes after Trump pledged to reverse the Biden administration’s strict stance on cryptocurrencies, proposing regulatory changes and a strategic Bitcoin reserve. Analysts, interviewed by Bloomberg, say these moves, combined with Bitcoin’s recently-ignited rally, are driving investor confidence in crypto ETFs.
“Under a Trump administration, it’s expected to be easier for businesses and retirement funds to include Bitcoin in their portfolios.”
Josh Gilbert, market analyst at eToro
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Ethereum ETFs outpace Bitcoin in recent inflows
The U.S. Securities and Exchange Commission approved spot Bitcoin ETFs earlier this year following a 2023 legal defeat. While SEC Chair Gary Gensler, a critic of the crypto industry, is stepping down, his tenure also saw the approval of Ethereum-linked ETFs. However, the latter had a muted impact on Ethereum’s price compared to Bitcoin’s sharp rise.
Recent data suggests Ethereum-linked ETFs have gained momentum, outpacing Bitcoin ETFs in inflows during the four trading days leading up to Thanksgiving. Despite this, Bitcoin ETFs continue to dominate, with $104.32 billion in combined net assets as of Nov. 27, according to SoSoValue.
Read more: QCP Capital: Ethereum eyes 35% rally as spot ETF inflows hit $90m
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