Spot Bitcoin exchange-traded funds in the United States recorded their third consecutive day of inflows on Nov. 20, with $773.47 million entering the funds as Bitcoin reached a new all-time high of over $97K.
According to data from SoSoValue, the cumulative inflows into U.S. Bitcoin ETFs over the past three trading days surpassed $1.8 billion. The momentum comes amid growing optimism surrounding Bitcoinâs future, particularly as regulatory clarity seems to be improving under the upcoming administration of President-elect Donald Trump, who has vowed to position the United States as the âcrypto capital of the planet.â
BlackRock leads the BTC ETF pack
The lionâs share of Nov. 20 inflows went to BlackRockâs IBIT ETF, which attracted $626.52 million in a single day. With this latest boost, BlackRockâs IBIT has now achieved cumulative net inflows exceeding $30 billion, solidifying its status as the dominant player in the Bitcoin ETF market.
Other ETFs also saw notable contributions. Fidelityâs FBTC ETF recorded $133.94 million in inflows, while ARK and 21Sharesâ ARKB and Bitwiseâs BITB saw more modest inflows of $9.25 million and $3.77 million, respectively.
While data on Grayscaleâs Bitcoin Mini Trust remains unavailable, other Bitcoin ETFs stayed neutral on the day. Total trading volume for Bitcoin ETFs reached $5.71 billion on Nov. 20, marking a sharp increase from $4.78 billion the previous day.
Bitcoin climbs toward $100K
Bitcoinâs price surged during Asian trading hours on Nov. 20, reaching a high of $97,836. The cryptocurrency has more than doubled in value this year and has seen a remarkable 40% increase in just the two weeks since Trumpâs election victory.
Investors are optimistic that Trumpâs pro-crypto stance and the influx of digital asset-friendly lawmakers in Congress could catalyze a golden era for the industry.
Since the election, U.S.-listed Bitcoin ETFs have attracted over $4 billion in inflows. BlackRockâs IBIT options also made a strong debut this week, with call optionsâindicating bullish bets on Bitcoinâs priceâoutpacing puts.
Ethereum ETFs face outflows
In stark contrast to Bitcoinâs bullish momentum, spot Ethereum ETFs recorded their fifth consecutive day of outflows on Nov. 20, with $30.29 million exiting the funds. Fidelityâs FETH led the outflows, shedding $30.75 million, while Grayscaleâs ETHE followed with $16.29 million in outflows, bringing its cumulative losses since launch to $3.29 billion.
Interestingly, BlackRockâs ETHA ETF bucked the trend, managing to attract $16.74 million in inflows, while the rest of the Ethereum-focused ETFs remained neutral.
At press time, Bitcoin (BTC) was still up 5.6% in the last 24 hours, trading at $97,659. Ethereum (ETH), however, was trading sideways and was valued at approximately $3,107.
