US-based spot Bitcoin ETFs saw $6.46 billion inflows in November, led by BlackRock, as BTC recorded a 45% price rally.
United States investors poured $6.4 billion into spot Bitcoin exchange-traded funds (ETFs) in November as the BTC market price rallied 45% to the $99,000 level for the first time in history.
A month-long bull run in November resulted in Bitcoin prices soaring from $68,000 to $99,000. Amid bullish sentiments, spot BTC ETFs raked in a combined $6.87 billion, with outflows of $411 million.
According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust ETF brought in $5.6 billion of investments in November, accounting for almost 87% of the total monthly inflows.
Investors showcase confidence in Bitcoin price
Other prominent players that attracted significant investments include Fidelity’s Wise Origin Bitcoin Fund at $962 million, Grayscale’s Bitcoin Mini Trust ETF at $211.5 million and the VanEck Bitcoin ETF at $71.2 million.
Continued inflows of funds from institutions and private investors amid high BTC prices are expected to support the ongoing bull run. Traders and analysts have predicted “insane long opportunities” for Bitcoin in the coming months as BTC enters a price discovery phase.
On the other hand, three players contributed to the $411 million in monthly outflows. The Grayscale Bitcoin Trust ETF, Bitwise Bitcoin ETF and Valkyrie Bitcoin Fund recorded outflows of $364 million, $40.4 million and $6.8 million, respectively.
The Crypto Fear & Greed Index, an analysis of investor sentiment maintained by Alternative.me, also projected a strong bullish sentiment in November.
Bullish investment sentiment across November
On Nov. 22, the Crypto Fear & Greed Index marked a yearly high at 92, signaling solid bullish sentiment among investors.
Moving into December, the index score dipped but continued to portray extremely positive sentiment. Data from TradingView show that BTC eased into trading sideways at $96,000 in December.
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