Alt HD: Spot Bitcoin ETFs see $524 million surge – Are institutions quietly accumulating BTC again?
Key Takeaways
Which Bitcoin ETF led the inflows?
BlackRock’s iShares Bitcoin Trust (IBIT) topped the list with $224.2 million in inflows, followed by Fidelity’s and Ark Invest’s ETFs.
How did Bitcoin’s price react?
Despite strong ETF inflows, Bitcoin slightly dipped 0.31%, trading around $104,772.57 at press time.
After a turbulent start to November marked by steady outflows, Spot Bitcoin [BTC] ETFs made a strong comeback on 11th November, recording a massive $524 million in inflows, according to data from Farside Investors.
There was a big increase in investments in Bitcoin recently, the largest in weeks. This suggests that investors might be feeling more positive about Bitcoin’s future after some uncertainty in the market.
Bitcoin ETF analysis
Among the Spot Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) led the surge with a remarkable $224.2 million in inflows. It was followed by Fidelity’s FBTC, which attracted $165.9 million, and Ark Invest’s ARKB, which saw inflows of $102.5 million.
Meanwhile, Grayscale’s GBTC recorded $24.1 million, and Bitwise’s BITB brought in $7.3 million.
The remaining Bitcoin ETFs, however, registered zero flows during the same period.
Source: Carl Moon/X
The timing of these inflows was particularly notable, as BTC was trading around $105,000 on the day of the surge.
At the time of writing, BTC had slightly retreated to $104,772.57, marking a 0.31% decline in the past 24 hours, according to CoinMarketCap.
Despite the minor dip, the strong inflows into Bitcoin ETFs reflect renewed investor confidence and continued institutional interest amid broader market volatility.
Ethereum ETF and Solana ETF update
In contrast, Spot Ethereum [ETH] ETFs faced a challenging day, recording total outflows worth $107.1 million.
Grayscale’s ETHE led the downturn with $75.7 million in outflows, followed by BlackRock’s ETHA, which saw $19.8 million leave the fund.
Other Ethereum-based ETFs also recorded modest outflows, while a few registered neutral activity with zero net flows.
At press time, ETH was trading at $3,510.63, down 1.45% in the past 24 hours, signaling a brief cooling-off period after recent gains.
On the other hand, Solana [SOL]-based Spot ETFs saw modest but positive traction. The two approved Solana ETFs, Bitwise’s BSOL and Grayscale’s GSOL, collectively recorded $8 million in inflows.
Of this, GSOL contributed $5.9 million, while BSOL added $2.1 million.
Meanwhile, SOL was trading at $159.25, reflecting a 2.41% decline over the past 24 hours, according to CoinMarketCap.
BlackRock shies away from altcoin
These movements came amid a broader landscape where multiple altcoin ETFs remain pending approval, and major institutional players like BlackRock continue to exercise caution.
Therefore, BlackRock’s cautious approach toward altcoin ETFs stems from its firm belief in Bitcoin and Ethereum as the only assets with lasting value.