U.S.-based Bitcoin and Ethereum exchange-traded funds (ETFs) have garnered over $1.4 billion in combined net inflows on November 11th, showcasing a remarkable influx of investor interest amidst the ongoing bullish trend in the market. The soaring demand for digital assets is evident as Bitcoin ETFs alone recorded a massive $1.11 billion in total net inflows on this day, marking the fourth day of an unprecedented streak of inflows, totaling over $3 billion since November 6th.
Leading the pack in Bitcoin ETF flows is BlackRock's iShares Bitcoin Trust (IBIT), which attracted $756.45 million in net inflows, solidifying its position with a cumulative total net inflow of $28.14 billion and holding $39.92 billion in net assets. Not far behind, Fidelity's Wise Origin Bitcoin Fund (FBTC) pulled in $135.07 million, contributing to its $10.9 billion cumulative net inflows and positioning itself as the second-best performing fund after IBIT, with $16.73 billion in net assets. Additionally, ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) secured significant inflows of $108.62 million and $42.66 million, respectively, indicative of the strong investor appetite for digital assets.
On the Ethereum front, ETFs dedicated to the cryptocurrency have seen a surge in net inflows, especially on November 11th, with a total of $295.48 million pouring in. Fidelity's Ethereum Fund (FETH) scored a substantial $115.48 million in net inflows on this day, showcasing impressive growth and investor confidence. Following closely, BlackRock's iShares Ethereum Trust (ETHA) witnessed inflows of $101.11 million, pushing its cumulative net inflows to $1.54 billion, confirming the rising popularity of Ethereum among investors.
In previous weeks, Ethereum ETFs had displayed promising signs as the inflows and outflows trended towards balance, but the recent surge in net inflows on November 11th suggests a significant shift in investor sentiment towards Ethereum. With Ethereum ETFs historically struggling with negative cumulative net inflows since late July, the current figure of -$41.3 million as of November 11th signifies a noteworthy turnaround from previous trends, indicating growing confidence and interest in Ethereum investments.