Bitcoin ETF Inflows Near $6.5 Billion in November
United States investors funneled $6.4 billion into spot Bitcoin exchange-traded funds (ETFs) during November as Bitcoin's market price surged 45%, reaching an all-time high of $99,000.
A month-long rally drove Bitcoin’s price from $68,000 to $99,000, fueling bullish market sentiment.
During this period, spot BTC ETFs recorded total inflows of $6.87 billion, offset by $411 million in outflows.
According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust ETF attracted the majority of inflows, securing $5.6 billion—nearly 87% of the monthly total.
Other key players also saw significant investments, including Fidelity’s Wise Origin Bitcoin Fund with $962 million, Grayscale’s Bitcoin Mini Trust ETF with $211.5 million, and the VanEck Bitcoin ETF with $71.2 million.
Sustained institutional and retail inflows, combined with high Bitcoin prices, are anticipated to maintain the bullish momentum.
Analysts have forecasted “insane long opportunities” for Bitcoin as it continues into a price discovery phase.
Meanwhile, $411 million in monthly outflows were attributed to three ETFs: the Grayscale Bitcoin Trust ETF with $364 million, the Bitwise Bitcoin ETF with $40.4 million, and the Valkyrie Bitcoin Fund with $6.8 million.
The Crypto Fear & Greed Index, maintained by Alternative.me, reflected strong bullish sentiment throughout November.
On Nov. 22, the index reached a yearly high of 92, signaling robust optimism among investors.
As the market transitioned into December, the index slightly declined but remained highly positive.
Data from TradingView indicated Bitcoin began trading sideways at $96,000 in December.
Sources:
https://cointelegraph.com/news/bitcoin-etfs-november-2024-bull-run-inflows