- Spot Bitcoin ETFs extended their positive streak to a fourth day this week.
- The funds saw $1 billion in daily net inflows.
- The development came as Bitcoin’s price approached the $100,000 mark.
U.S.-listed spot Bitcoin exchange-traded funds (ETFs) attracted massive inflows on Thursday, extending their positive streak to a fourth consecutive day this week.
The funds have generally witnessed an uptick in trade volume and net inflows in the past few days amid a bullish crypto market fueled by Donald Trump’s decisive re-election to the White House and the expected Federal Reserve’s interest rate cut in December.
Investors Bet Big on Bitcoin
According to SoSoValue data , spot Bitcoin ETFs saw daily net inflows totaling $1 billion on November 21, underscoring the growing institutional interest in exposure to the world’s largest cryptocurrency by market cap.
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BlackRock’s IBIT accounted for the lion’s share of the day’s inflow, pulling in $608.41 million as Fidelity’s FBTC, Bitwise’s BITB, and the ARK 21Shares Bitcoin ETF(ARKB) attracted $300.95 million, $68 million, and $17.18 million, respectively.
Grayscale’s GBTC seemingly fell out of favor with investors, bleeding $7.8 million to bring its cumulative net outflow since launch to $20.26 billion. The rest of the funds posted zero flows apart from the Grayscale Mini-Bitcoin Trust (BTC), VanEck’s HODL, and Franklin Templeton’s EZBC, which saw mild inflows totaling $18.23 million.
The continued inflows into the funds came as Bitcoin inched closer to the $100,000 mark, with prices hovering above $99,000 for most of Friday. Per CoinMarketCap data, the crypto asset reached a daily high of $99,481 at about 10:44 a.m. (GMT+3) before paring some of the gains to exchange hands at $98,755 at the time of writing.
The overall crypto market cap reached a record $3.4 trillion after adding 4.5% in the last 24 hours, mainly on Bitcoin’s jump and XRP’s 24.2% gain during the same period. Other smaller cryptos that soared include Ether and Solana, which gained 6.94% and 6.93% in the last day.
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