Bitcoin ETFs See Major Inflows as Cryptocurrency Approaches $100,000

On November 21, exchange-traded funds (ETFs) for Bitcoin experienced a significant surge in inflows, coinciding with the cryptocurrency's approach to breaking the $100,000 barrier, reflecting heightened investor interest.

According to data from the SoSoValue platform, these ETFs attracted $1 billion in inflows in a single day, extending a positive streak of inflows to four consecutive days. The total inflows during this period exceeded $2.8 billion.

The inflows on November 21 marked the highest in the last eight trading days, surpassing the previous record of $1.11 billion set on November 11. Leading the way was the BlackRock IBIT fund, which saw inflows of $608.41 million, bringing its total net inflows to $30 billion since its launch.

Other notable contributors to the growth included Fidelity's FBTC and Bitwise's BITB, with inflows of $300.95 million and $68 million, respectively. Additionally, ARK's ARKB fund, 21Shares, Grayscale Bitcoin Mini Trust, Franklin Templeton's EZBC fund, and VanEck's HODL fund added to the positive momentum, recording net inflows ranging from $5.56 million to $17.18 million.

On the flip side, Grayscale's GBTC fund recorded $7.81 million in outflows, pushing its total outflows since inception to $20.26 billion.

In terms of trading volume, the total for these ETFs reached $7.1 billion, marking a notable increase from the previous day's $5.09 billion. The BlackRock IBIT fund led the trading activity with a volume of $5.22 billion.

These substantial inflows coincided with Bitcoin reaching an all-time high of $99,261, coming very close to breaking the $100,000 barrier, with forecasts suggesting the digital currency may hit this historic milestone in the coming days.

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