2024-11-12 13:00 |
Bitcoin exchange-traded funds (ETFs) have attracted $3.4 billion in inflows over the past four days, according to Farside data. Major financial institutions, including BlackRock, Fidelity, and Grayscale, reported significant investments in their Bitcoin ETFs, indicating heightened institutional interest.
On Nov. 7, BlackRock’s IBIT ETF saw an inflow of $1.12 billion, marking the largest single-day investment among the ETFs listed.
These inflows come in the wake of the US Election, in which Donald Trump’s victory helped push Bitcoin toward $90,000.
Fidelity’s FBTC and Bitwise’s BITB also recorded notable inflows since the election of $666 million and $178 million, respectively. Grayscale’s GBTC continued to attract investments, adding $61 million.
Other financial firms, such as Ark Invest, Invesco, Franklin Templeton, Valkyrie, VanEck, and WisdomTree, contributed to the rising inflows. On Nov. 11, Ark’s ARKB ETF received $42.7 million, while Invesco’s BTCO added $108.6 million. BlackRock’s IBIT led the day with $756 million. These firms’ participation underlines a broader acceptance of Bitcoin within traditional financial markets.
Substantial inflows into Bitcoin ETFs reflect growing confidence among institutional investors in cryptocurrency’s long-term prospects. Possible FOMO among US investors who have seen adverts from the likes of BlackRock, Bitwise, et al over the past year could also be impacting investments as Trump’s reelection spurs increased attention to the digital asset.
The post Bitcoin ETFs pull in $3.4 billion since US Election amid another $1 billion day appeared first on CryptoSlate.
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