Institutional investors returned with a record inflow into ETFs of $1.4 billion
On November 7, 2024, a historic inflow into Bitcoin-based exchange-traded funds (ETFs) was recorded in the USA. A total of $1.37 billion was directed to 11 different funds, according to data from Farside Investors. The leader in inflow volume was the BlackRock IBIT fund, which attracted $1.12 billion, increasing its total size to $27 billion. On that day, the price of Bitcoin set a new record, approaching the mark of $77,000, following the decision of the U.S. Federal Reserve to lower rates, as well as the results of the presidential elections. Additionally, Ethereum-based funds also demonstrated significant inflows, particularly those managed by BlackRock and Fidelity, attracting $23.7 million and $28.9 million, respectively.
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