The U.S. spot Bitcoin ETFs recorded $5 billion in trading volume on November 14 with BlackRock’s IBIT alone contributing 60% of over $3 billion. Although despite significant volume, all these ETFs combined had a net outflow of $400.67 million.
While most ETFs witnessed significant negative outflow, BlackRock’s IBIT took $126.53 million of inflow with its cumulative net inflow now reaching $29.28 billion. All other ETFs – including Grayscale’s GBTC, Fidelity’s FBTC, ARK & 21Shares’ ARKB and Bitwise’s BITB – combined had a net outflow of $524.41 million.
The drop in net inflow comes after 6 days of net positive inflows of $4.7 billion from November 6 to November 13. Latest data from SoSoValue shows that spot Bitcoin ETFs have cumulative total net inflow of $27.83 billion with total net asset valued at $92.56 billion – representing 5.34% market cap of Bitcoin.
As Bitcoin continues with its bullish momentum, its increased ETF trading activity highlights the intensifying interest and institutional demand. As retail investors and institutions seek efficient access to Bitcoin, BlackRock’s IBIT has emerged as a dominant choice with it capturing a large portion of recent inflows.
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