BlackRock’s IBIT fund has maintained impressive inflows, attracting a hefty $778.2 million on November 12, marking the fourth consecutive day of strong investment activity. This influx is part of a broader trend of growing investment in Bitcoin exchange-traded funds (ETFs), despite recent fluctuations in cryptocurrency prices.

While Bitcoin’s value fell below the $86,000 mark during the same period, investor interest in Bitcoin ETFs continued to rise, with BlackRock’s IBIT leading the charge. In fact, the IBIT fund has become one of the most preferred Bitcoin ETF options, with its cumulative net inflows now surpassing $28.92 billion.

Bitcoin ETF Inflows Surge Despite Price Volatility

On November 12, a total of $817.54 million flowed into 12 spot Bitcoin ETFs, extending their streak of positive inflows to five consecutive days. The surge in investments is being driven by an optimistic market sentiment, partly fueled by the re-election of former U.S. President Donald Trump, which has bolstered overall investor confidence in the crypto market.

While BlackRock’s IBIT was the clear leader with $778.27 million in inflows, other Bitcoin ETFs such as Fidelity’s FBTC, Grayscale’s Bitcoin Mini Trust, and VanEck’s HODL also recorded modest inflows. Fidelity’s FBTC attracted $37.2 million, Grayscale’s Bitcoin Mini Trust saw $15.08 million, and VanEck’s HODL brought in $10.13 million.

However, not all Bitcoin ETFs saw positive flows. Grayscale’s flagship GBTC and ARK 21Shares’ ARKB experienced outflows of $17.79 million and $5.36 million, respectively. These outflows mark a shift from the previous day, when all 12 Bitcoin ETFs reported positive inflows. The adjustments reflect investor reactions to recent price fluctuations, as Bitcoin dropped more than 5% from its high of $89,900 to settle around $85,500 on November 12.

Bitcoin ETFs’ Market Share Grows

The strong performance of Bitcoin ETFs has not gone unnoticed. According to Bloomberg analyst Eric Balchunas, the total assets under management for Bitcoin ETFs have now exceeded $90 billion, which places them at 72% of the asset levels of gold ETFs. This comparison underscores the growing importance and relevance of Bitcoin ETFs in the broader investment landscape.

Despite the recent price correction, Bitcoin had shown signs of recovery by the time of writing, trading at approximately $86,917. Although down 1.7% over the past 24 hours, this recovery indicates that market participants are continuing to adjust to price changes, with many still confident in Bitcoin’s long-term prospects.

Ethereum ETFs Follow a Similar Trend

Bitcoin ETFs weren’t the only ones attracting investment. Ethereum ETFs also enjoyed sustained inflows on November 12, with net additions totaling $131.92 million. This marks the fifth consecutive day of positive inflows for Ethereum funds, which have now accumulated $649 million in just the past week.

Notably, November 11 saw a record-breaking single-day inflow of $295.48 million for spot Ethereum ETFs, signaling strong investor interest in Ethereum as well. BlackRock’s ETHA led the Ethereum fund pack, attracting $131.45 million in inflows, followed by Bitwise’s ETHW, which pulled in $16.98 million.

Other Ethereum ETFs, including Grayscale’s Ethereum Mini Trust, VanEck’s ETHV, and 21Shares’ CETH, also experienced positive flows. However, not all Ethereum funds saw inflows. Grayscale’s ETHE recorded net outflows of $33.21 million, slightly dampening the overall Ethereum ETF totals.

Despite these fluctuations, Ethereum has remained a popular choice among investors. As of the latest data, Ethereum’s price stood at $3,151, down 5.4% over the previous 24 hours. Like Bitcoin, Ethereum appears to be in the midst of a price correction, but the continued ETF inflows suggest strong investor confidence in its future.

Conclusion: The Resilience of Bitcoin and Ethereum ETFs

Both Bitcoin and Ethereum ETFs have shown remarkable resilience in the face of recent price corrections. BlackRock’s IBIT Bitcoin ETF continues to dominate with its impressive $778 million in inflows, reflecting its status as a preferred investment vehicle for those looking to gain exposure to Bitcoin. Despite some price volatility, the sustained inflows suggest that investors remain optimistic about the future of both cryptocurrencies.

As Bitcoin ETFs now boast over $90 billion in assets under management and Ethereum funds continue to see strong inflows, it’s clear that these assets are becoming an increasingly important part of the broader financial ecosystem. With investor sentiment buoyed by positive political developments and a strong appetite for crypto-based investments, Bitcoin and Ethereum ETFs are poised for continued growth, even amid market fluctuations.