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Bitcoin ETFs Draw Inflow Of $6.4B In November Experiences Super-Bull BTC Rally
U.S.-based spot Bitcoin exchange traded funds had the largest monthly inflows in history in November- $6.4 billion. This happened just after a stage- record rally, which lifted the market price of Bitcoin 45% in November to $99,000, after moving from $68,000. It is the highest price ever recorded for BTC.
According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust ETF attracted about $5.6 billion from inflows, almost about 87 percent of all monthly investments. Even with the whole bullish trend, it witnessed outflows of $411 million during the month, leaving a net inflow of $6.87 billion overall for spot Bitcoin ETFs.
The phenomenal rally clearly shows growing confidence among investors in Bitcoin as a key asset while leaving the spot ETFs to play a very significant role in channeling institutional as well as retail investments into the cryptocurrency.
The inflow of capital across all time zones reinforces the idea of growing institutional interest in Bitcoin reflected in lower blackouts by opening up. ETFs have been one such useful gateway for mainstream adoption.
Hence, in history, a huge inflow seems to be creating magical work in changing the dynamics of the market, which has happened to investors in terms of viewing cryptocurrencies as long-term asset classes.
Clearly, the dominance of BlackRock’s iShares Bitcoin Trust is a testimony to the driving force by large players in taking the ETF market forward.
