Spot Bitcoin Exchange Traded Fund (ETF) continues its upward momentum, continuing its strong week as the crypto market soars.
The Spot Bitcoin (BTC) ETF recorded net inflows of $1.67 billion during the trading week of November 11-15, marking its sixth consecutive week of positive flows. According to Convert data from crypto tracking platform SoSoValue.
BlackRock's iShares Bitcoin Trust (IBIT) is currently leading the way with historic cumulative inflows of $29.3 billion, but since the Spot BTC ETF began trading in January, Grayscale Bit The Coin Trust ETF recorded $20.3 billion in outflows.
In line with the positive trend in the Spot BTC ETF market, Spot Ether (Ethereum) ETFs have also grown, hit Weekly inflows were $515 million, the third consecutive week of positive inflows. Over the past three weeks, the Ether ETF has seen a total of $682 million in net inflows.
6 Weeks of Inflows Bring $9 Billion to Bitcoin ETF Spot Investment
Since October 11, the Spot Bitcoin ETF has recorded six consecutive weeks of inflows, totaling $8.95 billion, according to SosoValue.
These inflows bring the Spot Bitcoin ETF's total assets under management to $95.4 billion, equivalent to 5.27% of Bitcoin's market cap of $1.8 trillion.
Spot Bitcoin ETF weekly flows since October 4, 2024. Source: SoSoValue
Buying in the Bitcoin ETF market continued as Bitcoin exceeded $90,000 for the first time in history on November 12th, and further expanded to reach an all-time high of $92,400 on November 13th. It was within reach of the dollar.
Paul Tudor-Jones named IBIT top 10 holder
Billionaire investor Paul Tudor Jones is among those increasing his exposure to spot Bitcoin ETFs.
Hedge fund managers significantly increased their positions in BlackRock's Spot Bitcoin ETF in the third quarter. add IBIT stock worth $130 million.
Paul Tudor Jones is now a top 10 IBIT holder. sauce. Eric Balchunas/bitcoin archive
In his latest 13F-HR report, Jones said: shown It holds approximately $160 million worth of iShares Bitcoin Trust.
Related: Bitcoin ETF options pass “second hurdle” with CFTC approval
The disclosure made Mr. Jones the ninth-largest holder of IBIT stock, behind Millennium Management, Goldman Sachs Group Inc., IMC Chicago and others. According to To data from Holdings Channel.
Some top IBIT holders also increased their Bitcoin ETF exposure in the third quarter, with investment bank Goldman Sachs increasing its Bitcoin ETF holdings by 71% to $710 million.
According to data from crypto investment firm CoinShares, global inflows into products traded on crypto exchanges are the amount is high Last week, it rose to $2.2 billion.
CoinShares head of research James Butterfill also observed that Bitcoin's all-time high led to $866 million in outflows in the second half of the week, followed by $3 billion in inflows.
magazine: Saylor doubts $60,000 Bitcoin retrace, BTC ETF options, more: Hodler's Digest, November 10-16
