Exchange-traded funds (ETFs) focused on Bitcoin and Ethereum in the U.S. are experiencing unprecedented growth, with November seeing record net inflows of $7.6 billion. This surge follows a bullish political climate with the election of pro-crypto President Donald Trump, driving institutional interest in cryptocurrencies.
Data compiled from sources like SoSoValue and CoinGlass illustrates this trend, showing over $7.54 billion of net inflows into U.S. spot Bitcoin and Ethereum ETFs for November. This marks a substantial increase, surpassing the previous record of $6.03 billion in February.
Ethereum’s recent ETF performance has been particularly notable. Since its trading debut in July, the Ethereum spot ETF recorded net inflows of $467 million between November 25 and 29, with BlackRock’s ETHA fund attracting $300 million of this amount. On the daily inflow comparison, Bitcoin spot ETFs attracted $320 million, while Ethereum ETFs slightly outpaced them with $332 million.
Despite Ethereum’s recent price performance—growing by 15% in the last week of November compared to Bitcoin’s 1.7% decline—Bitcoin ETFs still hold the majority of market share. For instance, the iShares Bitcoin Trust (IBIT) from BlackRock has accumulated $48 billion in market cap flows since its launch, while Grayscale’s Bitcoin ETF (GBTC) follows with $20.9 billion.
As Bitcoin approaches the psychological $100,000 mark, market analysts note a shift in capital towards altcoins, possibly due to Bitcoin’s dominance dropping by 5% in recent days. This dynamic could reflect a maturing cryptocurrency market where ETFs become the preferred method for traditional finance to engage with Bitcoin and Ethereum.
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