Alt HD: Spot Bitcoin ETFs See $524M Surge – Are Institutions Quietly Accumulating BTC Again?
Key takeaways
Which Bitcoin ETF led inflows?
BlackRock’s iShares Bitcoin Trust (IBIT) topped the list with $224.2 million in inflows, followed by ETFs from Fidelity and Ark Invest.
How did the Bitcoin price react?
Despite strong ETF inflows, Bitcoin fell slightly by 0.31%, trading around $104,772.57 at press time.
After a rocky start to November marked by regular outflows, Spot Bitcoin (BTC) ETFs made a strong comeback on November 11, recording massive inflows of $524 million, according to data from Farside Investors.
There has been a surge in investment in Bitcoin recently, the largest in weeks. This suggests that investors may be feeling more positive about Bitcoin’s future after some market uncertainty.
Bitcoin ETF Analysis
Among Spot Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) led the rise with a remarkable inflow of $224.2 million. 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 recorded $7.3 million.
However, the remaining Bitcoin ETFs saw no inflows 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 retreated slightly to $104,772.57, down 0.31% over the past 24 hours, according to CoinMarketCap.
Despite this slight decline, 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 tough day, seeing total outflows worth $107.1 million.
Grayscale’s ETHE led the decline with $75.7 million in outflows, followed by BlackRock’s ETHA, which saw $19.8 million leave the fund.
Other Ethereum-based ETFs also saw modest outflows, while a few saw neutral activity with zero net flows.
At press time, ETH was trading at $3,510.63, down 1.45% over the past 24 hours, signaling a brief cooling off period after recent gains.
On the other hand, Solana-based Spot ETFs (SOL) have seen modest but positive traction. The two approved Solana ETFs, Bitwise’s BSOL and Grayscale’s GSOL, collectively saw $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 turns away from altcoin
These moves came against a broader landscape where several altcoin ETFs remain awaiting approval and major institutional players like BlackRock continue to exercise caution.
Therefore, BlackRock’s cautious approach to altcoin ETFs stems from its firm belief that Bitcoin and Ethereum are the only assets with lasting value.
