- Bitcoin ETFs saw $1.64B inflows, with volatility peaking mid-week and $42.5B in assets now held by institutions like BlackRock.
- Ethereum ETFs hit a record $515.9M in inflows, but faced declines towards the week’s end, highlighting slower growth compared to Bitcoin.
- Bitcoin ETF inflows show market optimism, with Bitcoin’s price increasing to $73K in November improving institutional interest.
$1.64 billion was invested in Bitcoin ETFs and $515.9 million in Ethereum ETFs between November 11 and November 15, 2024. This is the largest weekly net inflow for Ethereum ETFs. However, despite these total inflows, both Bitcoin and Ethereum ETFs faced substantial outflows during the final days of the week, particularly on November 15, when no new inflows were recorded.
Bitcoin ETFs’ Volatile Movements
Spot Bitcoin ETFs experienced ups-and-down inflows and outflows. An increase occurred between trading days 206 and 213, with Bitcoin ETF inflows rising to $1.04 billion. However, by day 215, these inflows dropped significantly to $514.6 million.
Additionally, negative inflows hit on days 216 and 217, reaching -$399.6 million and -$370 million, respectively. Despite the fluctuations, the total value of Bitcoin held in ETFs continues to rise, with institutions like BlackRock adding 21,360 BTC this week alone. They now hold 471,329 BTC, worth approximately $42.5 billion.
The overall market impact is substantial. CryptoQuant data indicates that 5.3% of all mined Bitcoin is currently held in Bitcoin ETFs. Compared to January 2024, when they owned only 3.15% of the entire Bitcoin supply, this is a significant growth. The growth from 629,900 BTC to 1.05 million BTC in just 10 months highlights a strong trend toward institutional adoption of Bitcoin through ETF vehicles.
Source: CryptoQuant
Ethereum ETFs and Their Steady Growth
Ethereum ETFs also saw a steady influx of capital, particularly in early November. The net inflow peaked at $205.1 million between trading days 52 and 58. However, by day 60, inflows had diminished, with an outflow of -$58.9 million recorded. This demonstrates that while Ethereum ETFs are growing, the pace is slower compared to their Bitcoin counterparts.
The correlation between ETF inflows and Bitcoin price surges is clear. Notably, the dramatic rise in inflows in March and November coincided with price movements. Bitcoin reached a high of $73,000 during this period, fueled by market optimism following political events and positive regulatory signals.
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