Bitcoin investment products experienced a surge in net inflows, reaching $3.12 billion between Nov. 18 and 22, according to CoinShares. This marks a 102% increase compared to the $1.67 billion from the prior week and extends the streak of positive inflows to seven weeks. Spot Bitcoin ETFs in the United States played a pivotal role in this growth, signaling heightened investor interest.
BlackRock’s iShares Bitcoin Trust (IBIT) leads the market with $48.95 billion in net assets and $31.33 billion in cumulative inflows as of Nov. 22. In contrast, the Grayscale Bitcoin Trust ETF holds $21.61 billion in assets but has faced outflows exceeding $20 billion since its inception. Year-to-date inflows for all digital asset investment products have hit $37 billion, significantly surpassing the first-year inflows of gold ETFs, which totaled $309 million.
Globally, the picture is mixed. Markets in Germany, Sweden, and Switzerland recorded outflows of $40 million, $84 million, and $17 million, respectively. Conversely, Australia, Canada, and Hong Kong showed optimism, with combined inflows of $70 million. Additionally, $10 million flowed into short-Bitcoin products, indicating some investors are hedging against potential price drops.
Bitcoin’s price reached an all-time high of $99,655.50 on Nov. 22, just shy of the $100,000 milestone. It has since retreated slightly and currently trades at $93,836. The broader momentum underscores rising investor confidence and has pushed total assets under management for digital investment products to a record $138 billion. CoinShares noted that Bitcoin inflows this year have reached unprecedented levels in the crypto sector.
Altcoins also saw activity, particularly in European markets. Solana-linked funds received $16 million, while Ethereum-focused products attracted $2.8 million. This diversification reflects growing interest across the digital asset landscape.
Former President Donald Trump’s Nov. 5 second election victory may also have influenced the surge in inflows. His pro-crypto campaign rhetoric and promises to support the digital asset industry appear to have positively impacted market sentiment.
Analysts see the week’s robust inflows as a testament to increased market interest, positioning Bitcoin closer to breaching the $100,000 threshold. As inflows continue, driven by a mix of institutional and retail demand, the outlook for Bitcoin and related investment products remains positive. The recent trends suggest sustained momentum, with investors responding to favorable market dynamics and strategic opportunities in the digital asset space.