Summary
Spot Bitcoin ETFs in the U.S. saw substantial inflows on Nov. 6, with net gains of $621.9 million as Bitcoin hit a new all-time high above $76,000. Fidelity, ARK 21Shares, Grayscale, and Bitwise were among the top funds driving inflows.
Record-Breaking Inflows for Bitcoin ETFs
On Nov. 6, spot Bitcoin ETFs in the U.S. experienced a significant inflow of $621.9 million, rebounding from a three-day period of outflows totaling $712.9 million. Fidelity’s FBTC led with $308.77 million in inflows, followed by ARK 21Shares, Grayscale, and Bitwise, with inflows ranging from $100 million to $127 million.
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High Trading Volumes and Positive Market Response
Several Bitcoin ETFs saw their trading volumes more than double, with BlackRock’s iShares Bitcoin Trust (IBIT) hitting $4.1 billion in trades, its highest volume ever. Despite inflows across most ETFs, BlackRock encountered $69.11 million in outflows, diverging from the overall trend.
Market Hope for Trump’s Pro-Crypto Victory
Analysts are hopeful about future growth in digital assets due to the surge in Bitcoin’s price, which coincided with Donald Trump’s election as president, which was pro-crypto. Asset managers are submitting applications to introduce exchange-traded funds (ETFs) for cryptocurrencies including Solana, XRP, and Litecoin in anticipation of regulatory certainty.
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