Spot Bitcoin ETFs Cross $100 Billion Milestone Amid $30 Billion Inflows and BTC Price Surge
The total assets under management of the 11 spot Bitcoin exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission earlier this year have crossed the $100 billion milestone after seeing nearly $30 billion inflows and amid BTC’s price rise.
The total assets under management of the 11 spot Bitcoin exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission earlier this year have crossed the $100 billion milestone after seeing nearly $30 billion inflows and amid BTC’s price rise.
According to data from SoSoValue, spot Bitcoin ETFs in the US now have around $100.6 billion in total assets, after seeing total inflows of $29.35 billion. Their total assets now account for around 5.4% of the flagship cryptocurrency’s total market capitalization.
Data from Farside Investors shows that these funds saw significant inflows over the last few days, with BlackRock’s iShares Bitcoin Trust (IBIT) seeing $626.5 million yesterday, November 20, while Fidelity’s FBTC saw $133.9 million inflows that same day. In total, thse funds saw $773.4 million inflow yesterday.
On average, spot Bitcoin ETFs have been seeing a $134.5 million inflow per day, with the maximum seen in a single day being of $1.37 billion, of which $1.11 billion went to BlackRock’s spot Bitcoin fund.
According to Eric Balchunas, senior ETF analyst at Bloomberg, these funds are now 97% of the way to having more BTC than the creator of the cryptocurrency, the pseudonymous Satoshi Nakamoto, and are 82% of the way to surpassing gold ETFs in total assets.
The price of Bitcoin has moved up more than 165% over the past year to now trade at $97,700, a milestone achieved after the launch of these spot Bitcoin ETFs and after Republican candidate Donald Trump won the US presidential elections.
A Trump victory was widely expected to help boost Bitcoin’s price, as the former U.S. President has expressed strong support for the cryptocurrency sector, meaning the regulatory outlook could improve through the reduction of regulatory ambiguity and the appointment of more crypto-friendly officials to key positions, for example.
Bitcoin’s price, however, has been known to rally after U.S. presidential elections, having seen 90-day returns of 87%, 44%, and 145% after the elections in 2012, 2016, and 2020, respectively.
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