Key Points
- Bitcoin ETFs in the U.S. have attracted $6.2 billion in November, nearing a record monthly inflow.
- Ethereum-linked ETFs are gaining momentum, surpassing Bitcoin ETFs in recent inflows.
Bitcoin exchange-traded funds (ETFs) in the United States are on course for their most successful month to date, with inflows of $6.2 billion recorded in November so far.
This surge in capital is driven by Bitcoin’s ascent towards the $100,000 mark and the forthcoming President-elect Donald Trump’s favorable stance on cryptocurrencies.
Record-Breaking Inflows
ETF issuers such as BlackRock and Fidelity are witnessing these inflows, which are poised to exceed the previous record of $6 billion set in February. The incoming President Trump has promised to reverse the Biden administration’s stringent approach to cryptocurrencies, suggesting regulatory alterations and a strategic Bitcoin reserve.
According to analysts, these measures, coupled with Bitcoin’s recent rally, are boosting investor confidence in crypto ETFs.
Josh Gilbert, a market analyst at eToro, stated, “Under a Trump administration, it’s expected to be easier for businesses and retirement funds to include Bitcoin in their portfolios.”
Ethereum ETFs Gaining Traction
The U.S. Securities and Exchange Commission approved spot Bitcoin ETFs earlier this year following a legal setback in 2023. While outgoing SEC Chair Gary Gensler, a known critic of the crypto sector, is stepping down, his term also saw the approval of Ethereum-linked ETFs.
However, the latter had a muted influence on Ethereum’s price relative to Bitcoin’s sharp increase. Recent data indicates that Ethereum-linked ETFs have been gaining momentum, surpassing Bitcoin ETFs in inflows in the four trading days leading up to Thanksgiving.
Nevertheless, Bitcoin ETFs remain dominant, with combined net assets totaling $104.32 billion as of November 27, according to SoSoValue.
