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As Bitcoin inches closer to the historic $100,000 milestone, spot Bitcoin ETFs reported a record-breaking $1 billion in inflows on November 21. While Ethereum ETFs experienced slower activity, Bitcoin’s surge continues to captivate both investors and the mainstream media.
Record Inflows for Bitcoin ETFs
Spot Bitcoin ETFs attracted $1 billion in investments across 12 funds on November 21, marking the largest daily inflow in eight trading sessions. Over the past four days, cumulative inflows reached $2.8 billion, highlighting a growing demand for crypto-related investment products.
BlackRock’s IBIT fund led the inflow activity with $608.41 million in investments on Thursday, bringing its total net inflows since inception to $30 billion. Fidelity’s FBTC fund followed with $300.95 million, while Bitwise’s BITB ETF contributed $68 million. ARK’s ARKB fund and VanEck’s HODL ETF also saw positive net flows of $17.18 million and $5.56 million, respectively. In contrast, Grayscale’s Bitcoin Mini Trust recorded $7.81 million in outflows.
Bitcoin ETF Trading Volume Surges
On November 21, total trading volume for spot Bitcoin ETFs reached $7.1 billion, up significantly from $5.09 billion the previous day. BlackRock’s IBIT fund alone accounted for $5.22 billion of this activity. The surge in trading volume coincided with Bitcoin reaching an all-time high of $99,261, as anticipation builds for the cryptocurrency to breach the $100,000 barrier.
Ethereum ETFs Lag Behind
While Bitcoin ETFs saw record demand, Ethereum ETFs struggled with $9.05 million in net outflows on November 21. Grayscale’s ETHE fund led the outflows with $27.08 million. However, Fidelity’s FETH fund mitigated some of the losses with $16.79 million in inflows, and Bitwise’s ETHW and VanEck’s ETHV ETFs added $2.89 million and $2.46 million, respectively.
Analysts believe Ethereum ETFs could gain momentum with improved regulatory clarity. According to Georgii Verbitskii, Ethereum could see faster adoption as market conditions and policies evolve.
Bitcoin and Ethereum Market Performance
At the time of writing, Bitcoin was trading at $98,945, up 1.8% over the past 24 hours. Ethereum saw an even stronger performance, rising 8.1% to $3,369. Bitcoin’s steady climb toward $100,000 has fueled excitement across the market, with Ethereum also showing strong gains amidst this bullish sentiment.
