Bitcoin ETFs See Third Consecutive Day of Inflows as BTC Hits New All-Time High

U.S. Bitcoin exchange-traded funds (ETFs) recorded their third consecutive day of inflows on November 20, with a total of $773.47 million pouring into these funds as Bitcoin (BTC) reached a new all-time high of over $97,000.

Data from SoSoValue reveals that over the past three trading days, U.S. Bitcoin ETFs have seen cumulative inflows surpassing $1.8 billion. This surge in investment comes amid rising optimism surrounding Bitcoin’s future, fueled by increasing regulatory clarity, especially as President-elect Donald Trump is expected to create a favorable environment for crypto under his administration. Trump has promised to position the U.S. as the "crypto capital of the planet."

BlackRock Dominates Bitcoin ETF Market

The majority of the November 20 inflows were directed to BlackRock’s IBIT ETF, which alone attracted $626.52 million in a single day. With this substantial inflow, BlackRock’s IBIT now has net inflows exceeding $30 billion, solidifying its position as the leading player in the Bitcoin ETF space.

Other ETFs also saw notable inflows, with Fidelity’s FBTC ETF gaining $133.94 million. ARK and 21Shares’ ARKB ETF and Bitwise’s BITB ETF recorded more modest inflows of $9.25 million and $3.77 million, respectively. While data for Grayscale’s Bitcoin Mini Trust remains unavailable, other Bitcoin ETFs remained neutral. On November 20, total trading volume for Bitcoin ETFs surged to $5.71 billion, up from $4.78 billion the day before.

Bitcoin Reaches New Heights Near $100K

Bitcoin experienced a surge during Asian trading hours on November 20, reaching a high of $97,836. The cryptocurrency has more than doubled in value this year, experiencing an impressive 40% increase in just two weeks since Trump’s election victory. This rally has fueled optimism among investors, who believe that Trump’s pro-crypto policies and the increasing number of digital asset-friendly lawmakers in Congress could usher in a new era of growth for the industry.

Since the election, U.S.-listed Bitcoin ETFs have seen over $4 billion in inflows, with BlackRock’s IBIT options seeing a particularly strong debut. The options market also reflected bullish sentiment, with call options (bets on Bitcoin’s price rising) outpacing put options.

Ethereum ETFs See Outflows Amid Bitcoin’s Bullish Momentum

In contrast to Bitcoin’s bullish performance, Ethereum ETFs have experienced their fifth consecutive day of outflows on November 20, with $30.29 million exiting the funds. Fidelity’s FETH ETF led the outflows, losing $30.75 million, while Grayscale’s ETHE saw $16.29 million in outflows, bringing its cumulative losses to $3.29 billion since its launch.

However, not all Ethereum-focused ETFs followed this trend. BlackRock’s ETHA ETF bucked the outflow pattern, attracting $16.74 million in inflows, while the rest of the Ethereum ETFs remained neutral.

As of now, Bitcoin continues to show strong performance, up 5.6% in the past 24 hours and trading at $97,659. Meanwhile, Ethereum is trading relatively flat at around $3,107.