Bitcoin (BTC) ETFs See Third Consecutive Day of Inflows as BTC Price Hits New ATH of $97K

Spot Bitcoin exchange-traded funds in the United States recorded their third consecutive day of inflows on Nov. 20, with $773.47 million entering the funds

Spot Bitcoin exchange-traded funds in the United States saw their third day in a row of inflows on Nov. 20, with $773.47 million entering the funds as Bitcoin hit a new all-time high of over $97K.

According to data from SoSoValue, the total inflows into U.S. Bitcoin ETFs over the past three trading days now stand at $1.8 billion. The momentum comes as optimism grows for the future of Bitcoin, especially as the upcoming administration of President-elect Donald Trump, who has promised to make the United States the “crypto capital of the planet,” seems set to bring greater regulatory clarity.

BlackRock leads the BTC ETF pack

The bulk of the Nov. 20 inflows went to BlackRock’s IBIT ETF, which saw a single-day inflow of $626.52 million. With this latest boost, BlackRock’s IBIT has now achieved net cumulative inflows of over $30 billion, cementing its dominance in the Bitcoin ETF space.

Other ETFs also saw significant inflows. Fidelity’s FBTC ETF recorded $133.94 million in inflows, while ARK and 21Shares’ ARKB and Bitwise’s BITB saw smaller inflows of $9.25 million and $3.77 million, respectively.

While data on Grayscale’s Bitcoin Mini Trust was again unavailable, other Bitcoin ETFs saw inflows largely flatten out on the day. Total trading volume for Bitcoin ETFs on Nov. 20 amounted to $5.71 billion, a sharp increase from the previous day’s $4.78 billion.

Bitcoin price surges toward $100K

Bitcoin price surged higher during Asian trading hours on Nov. 20, reaching a peak of $97,836. The cryptocurrency has more than doubled in value this year and seen a massive 40% increase in just the two weeks since Trump’s election victory.

Investors are upbeat as Trump’s pro-crypto stance and the influx of digital asset-friendly lawmakers in Congress are widely expected to usher in a golden era for the industry.

Since the election, U.S.-listed Bitcoin ETFs have attracted over $4 billion in inflows. BlackRock’s IBIT options also made a strong debut this week, with call options — indicating bullish bets on Bitcoin’s price — outpacing puts.

Ethereum ETFs see outflows

In sharp contrast to Bitcoin’s bullish momentum, spot Ethereum ETFs recorded their fifth consecutive day of outflows on Nov. 20, with $30.29 million exiting the funds. Fidelity’s FETH led the outflows, shedding $30.75 million, while Grayscale’s ETHE followed with $16.29 million in outflows, bringing its total cumulative outflows since launch to $3.29 billion.

Notably, BlackRock’s ETHA ETF bucked the trend, managing to attract $16.74 million in inflows, while the rest of the Ethereum-focused ETFs saw flat inflows.

At press time, Bitcoin (BTC) is still up 5.6% in the last 24 hours, trading at $97,659. Ethereum (ETH), however, is trading sideways and valued at approximately $3,107.