As a seasoned crypto investor with a knack for spotting trends and a penchant for riding the Bitcoin wave, I can confidently say that the recent surge in spot Bitcoin ETF inflows is nothing short of exhilarating. With six consecutive weeks of positive flows totaling $9 billion, it’s clear that institutional investors are increasingly embracing Bitcoin as a legitimate asset class.
The momentum for Bitcoin-related exchange-traded funds (ETFs) has persisted, with another victorious week recorded as the digital currency markets experienced a surge.
During the week of November 11-15, Bitcoin (BTC) ETFs saw a total investment of $1.67 billion, making it the sixth consecutive week with positive inflows, as reported by the cryptocurrency tracking platform SoSoValue.
The iShares Bitcoin Trust by BlackRock currently tops the list in total inflows over time, amounting to $29.3 billion, whereas the Grayscale Bitcoin Trust ETF has experienced withdrawals totaling $20.3 billion since Bitcoin Spot ETFs started trading in January.
Over the past few weeks, the Bitcoin ETF market has seen a surge in a favorable direction, and this trend seems to be influencing other markets as well. Specifically, spot Ethereum (ETH) ETFs have witnessed growth, registering $515 million in weekly inflows. This marks three consecutive weeks of positive flows for these ETH ETFs. In the last three weeks alone, a total of $682 million has flowed into these Ether ETFs.
Six weeks of inflows bring $9 billion to spot Bitcoin ETFs
Over the past six consecutive weeks, starting from October 11th, Bitcoin ETFs have been experiencing inflows, amounting to a total of $8.95 billion, as reported by SoSoValue.
The accumulated inflows now put the combined value of Bitcoin ETFs at approximately $95.4 billion, representing roughly 5.27% of Bitcoin’s overall market worth, which stands at a staggering $1.8 trillion.
The persistent purchase of Bitcoin ETFs occurred as Bitcoin climbed beyond $90,000 for the very first time on November 12, reaching an unprecedented level, and went even higher to set a new record high of $92,400 on November 13.
Paul Tudor Jones becomes a top 10 holder of IBIT
Billionaire investor Paul Tudor Jones is among those increasing their exposure to spot Bitcoin ETFs.
In the third quarter, the hedge fund manager significantly boosted investments in BlackRock’s Bitcoin ETF, purchasing approximately $130 million in IBIT shares.
According to his most recent 13F-HR filing, Jones revealed that he owns approximately $160 million in the iShares Bitcoin Trust.
Through this exposure, Jones becomes one of the top nine shareholders of IBIT, with Millennium Management, Goldman Sachs Group, IMC Chicago, and other entities holding larger stakes, as per information from Holdings Channel.
In the third quarter, some significant IBIT stakeholders also amplified their Bitcoin Exchange-Traded Fund (ETF) investments, notably the financial institution Goldman Sachs, which boosted its Bitcoin ETF assets by a substantial 71%, amounting to approximately $710 million.
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2024-11-18 12:32