U.S. Bitcoin ETFs have seen a massive surge in buying activity, purchasing nearly $5 billion worth of Bitcoin in just six days. HODL15Capital reports this dramatic inflow shows increasing institutional interest in Bitcoin as an investment vehicle.
U.S. Bitcoin ETFs bought nearly $5 Billion BTC in 6 days pic.twitter.com/iguxcHpTd0
— HODL15Capital (@HODL15Capital) November 14, 2024
Surge in Bitcoin ETF Inflows Reflects Strong Institutional Interest
Bitcoin ETFs started the buying spree on November 6, 2024, when they saw a daily net inflow of $621.9 million. The momentum continued to gather, so much so that the following day, November 7, was even more of a blow, with $1.38 billion flowing in. The Bitcoin purchase then surged again on November 8 with another strong day, as $293.47 million worth of Bitcoin was purchased.
It continued into the next week. Bitcoin ETFs had a glorious $1.11 billion daily net inflow on November 11, 2024, which is a huge change in the market sentiment. The pace even accelerated further on November 12, with a total net inflow of $817.54 million. Over the course of the six days, Bitcoin ETFs saw a further $510.11 million of Bitcoin added to the fund by November 13, bringing the total net inflow up to almost $5 billion.
Institutional Adoption Drives Bitcoin ETF Surge as Capital Inflows Soar
The influx of capital into Bitcoin ETFs is just a manifestation of how institutional adoption of digital assets is on an upswing. As interest in Bitcoin grows, more and more investors are looking to regulated exchange-traded funds to get exposure to the cryptocurrency, without having to buy it directly.
At the peak of interest in digital assets, the Bitcoin ETF purchases are making a dramatic rise. As Bitcoin attracts more attention from institutional investors, analysts say the surge in ETF inflows could be a new phase of Bitcoin and the broader cryptocurrency market’s growth.
