US spot Bitcoin exchange trade funds recorded the second largest inflow in history as Bitcoin won a new record on Monday.
The 11 US-based Bitcoin ETF saw a cumulative $1.1 billion inflow of $1.1 billion on November 7, 2024, which Donald Trump won for $1.37 billion since he won the election and became president of the US, and saw a cumulative $1.1 billion inflow of $1.18 billion that day.
According to Coinglass, ETFS’ bumper day, coinciding with Bitcoin’s new all-time high of $126,000, brought total October inflows to $3.47 billion in just four days.
Meanwhile, Bitcoin ETF has been cumulatively raked in about $60 billion since its launch, Bloomberg ETF analyst James Sefert told X on Monday.
The massive demand for Bitcoin ETP highlights the significant impact of institutional investors in this bull market, with retail investors reportedly still on the sidelines.
BlackRock’s IBIT leads the pack
The BlackRock Isshares Bitcoin Trust (IBIT) saw the majority of the a whopping $967 million inflow that entered the $967 million product on Monday. The ETF has resulted in an influx of $2.6 billion since the beginning of October.
Related: BlackRock chases Bitcoin yields as “sequel” as ibit with latest ETF
The Fidelity Wise Origin Bitcoin Fund (FBTC) recorded an influx of $112 million, with the Bitwise Bitcoin ETF (BITB) at $60 million, and the Grayscale Bitcoin Mini Trust (BTC) at $30 million. There have been minor influxes for Invesco, Wisdomtree and Franklin funding.
ibit is fastest from $100 billion
The BlackRock Bitcoin ETF is on the verge of surpassing its $100 billion in managed assets, as observed by Nova Dius president Nate Geraci on Tuesday.
According to the official website, IBIT has around $98.5 billion in Bitcoin and cash, with 783,767 BTC.
The world’s largest ETF, the Vanguard S&P 500 ETF, took over 20 million days to hit that mark. Ibit is trying to do it within 450 days, Geraci said. Of the more than 4,500 traded ETFs, only 18 have AUMs of over $100 billion, he added.
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