According to Cointelegraph: Spot Bitcoin exchange-traded funds (ETFs) continue to gain momentum, recording $1.7 billion in weekly inflows for the trading week of November 11–15, 2024. This marks six consecutive weeks of positive flows, bringing total net assets to $95.4 billion—equivalent to 5.27% of Bitcoin’s $1.8 trillion market capitalization, according to SoSoValue.
The consistent inflows into spot Bitcoin ETFs highlight growing institutional and retail interest in regulated Bitcoin investment products, further cementing their role in the cryptocurrency ecosystem.
“Spot Bitcoin ETFs have recorded $8.95 billion in cumulative inflows since October 11, reflecting sustained investor confidence,” SoSoValue reported.
Spot Bitcoin ETFs are thriving as cryptocurrency markets reach new highs. BlackRock’s iShares Bitcoin Trust (IBIT) leads cumulative inflows with $29.3 billion, while Grayscale Bitcoin Trust ETF (GBTC) has seen outflows of $20.3 billion since spot Bitcoin ETFs began trading in January.
This growth coincides with Bitcoin hitting new all-time highs, surging past $90,000 on November 12 and reaching $92,400 on November 13.
Other crypto ETFs are also benefiting from the positive trend. Spot Ether (ETH) ETFs recorded $515 million in weekly inflows, marking three straight weeks of growth. In total, Ether ETFs have attracted $682 million in net inflows over the past three weeks.
Institutional Participation Fuels Growth
High-profile investors and institutions have significantly increased their Bitcoin ETF exposure. Billionaire hedge fund manager Paul Tudor Jones added $130 million in IBIT shares during Q3, bringing his total holdings to nearly $160 million, according to his latest 13F-HR report. This positions Jones among the top 10 IBIT shareholders, alongside major players like Goldman Sachs and Millennium Management.
Goldman Sachs increased its Bitcoin ETF holdings by 71% in Q3, reaching $710 million, further solidifying institutional confidence in Bitcoin ETFs.
Outlook for Spot Bitcoin ETFs
The inflow streak and Bitcoin’s price surge underscore the growing adoption of Bitcoin ETFs as a key investment vehicle. The continued inflows, coupled with Bitcoin's performance, suggest that institutional and retail investors are increasingly turning to ETFs for secure and regulated exposure to cryptocurrencies.
Spot Bitcoin ETFs have captured $1.7 billion in weekly inflows and $9 billion over six weeks, reflecting strong market sentiment. As Bitcoin and other crypto ETFs continue to grow, they are poised to play an integral role in bridging traditional finance and the crypto ecosystem.
Read More:
MtGox-Linked Wallet Transfers 100 Bitcoins Worth $9.1 Million
Monochrome Bitcoin ETF Reaches 226 BTC Holdings
Cathie Wood Predicts Significant Growth for Bitcoin
