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cryptonews 2024-11-29 20:51:43

Bitcoin ETFs See Record Monthly Inflows of $6.2B as BTC Price Nears $100K

Bitcoin ETFs See Record Monthly Inflows of $6.2B as BTC Price Nears $100K

Investors are currently allocating capital to spot Bitcoin exchange-traded funds (ETFs) in the United States at a high rate. These funds, which allow investors to invest in Bitcoin ( BTC ) without actually holding the digital currency, have attracted a record $6.2 billion in new inflows this month (as of Nov. 27). This surpasses the previous record set in February when inflows reached $6 billion. Spot btc ETFs set to break monthly inflow record… $6.2bil so far in November. Previous high was $6bil in February. via @markets pic.twitter.com/u8WvDHwoSM — Nate Geraci (@NateGeraci) November 29, 2024 BlackRock’s iShares Bitcoin Trust (IBIT) continues to lead the pack, with net inflows of 5.4 billion in November and year-to-date inflows of 31.6 billion. On Nov. 11, spot Bitcoin ETFs saw inflows of $1.11 billion. This was followed by another surge on Nov. 21, with $1 billion flowing into these funds, according to SoSoValue data . Total Bitcoin ETF net inflows (Nov. 1 – Nov. 27). Source: SoSoValue Trump Promises Pro-Crypto Agenda The surge in investments in Bitcoin ETFs is being fueled by Bitcoin’s rise toward the $100,000 mark , driven in part by President-elect Donald Trump’s pro-crypto stance . Bitcoin briefly flirted with the $100,000 milestone last week, propelled by Trump’ promises to dismantle existing crypto regulations and foster a more favorable environment for digital assets. The incoming president pledged to make the United States the crypto capital of the world, create a “Strategic Bitcoin Reserve,” and establish a crypto advisory council tasked with designing transparent regulatory guidance to benefit the digital asset industry. Bitcoin’s Stellar YTD Performance Outshines Traditional Assets While Bitcoin’s rally has cooled slightly this week, currently settling around $97,300, its year-to-date performance (+151.5%) remains stellar, outshining traditional assets like stocks and gold. The surge follows the U.S. Securities and Exchange Commission (SEC)’s reluctant approval of spot Bitcoin ETFs in January after a court ruling. With the departure of SEC Chair Gary Gensler , a known crypto critic, on Jan 20, the path is cleared for a more crypto-friendly successor and potentially a wave of new ETFs for other digital tokens. The post Bitcoin ETFs See Record Monthly Inflows of $6.2B as BTC Price Nears $100K appeared first on Cryptonews .

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