Bitcoin ETFs saw $2.6B in investments amid the weekly bull run.
Bitcoin's surge to nearly $90,000 in early November led to massive inflows into bitcoin exchange-traded funds (ETFs) in the United States.
In the year On November 6, Bitcoin (BTC) began a bull run, taking its price from the $69,000 mark to nearly $90,000 in seven days. Bitcoin's rising price, driven by positive market sentiment and fear of missing out (FOMO), has led retail and institutional investors to increase their exposure to Bitcoin.
As a result, investments in bitcoin ETFs in the US reached $2.6 billion in the week of November 6-11, according to data from Farside Investors.
Spot Bitcoin ETF investment income and expense data. Source: Farside Investors
All ETF providers pulled investments amid the Bitcoin bull run
Of the 11 BTC ETFs in the United States, BlackRock's iShares Bitcoin Trust brought in more than $2 billion worth of investments at the time.
Other notable ETFs that contributed to weekly gains included the Fidelity Wise Home Bitcoin Fund, the Bitwise Bitcoin ETF and the ARK 21Shares Bitcoin ETF, which posted revenues of $668.3 million, $180 million and $253.2 million, respectively.
Grayscale occasionally records a positive flow
Moreover, the Grayscale Bitcoin Trust, which contributed to $20 billion in outflows from the ETF ecosystem, posted net positive returns amid the Bitcoin bull run.
According to Farside Investors, Greyscale's Bitcoin ETFs — GBTC and BTC — have registered a total of $219.8 million since Nov. 6.
Related: ‘Volmageddon'—Bitcoin ETFs, Coinbase, Micro Strategy Trading Vol hits $38B
The positive investor sentiment carried over to the ethereal ETF ecosystem. In the year On November 11, Ether ETFs in the US posted their biggest daily gains since their July launch.
The spot Ether ETF recorded $294.9 million in revenue on November 11 – breaking the previous record of $106.6 million on the day it launched.
“After lagging for most of this cycle, Ethereum is starting to catch up,” BTC Markets crypto analyst Rachel Lucas said in a note to Cointelegraph.
Magazine: Real Life Agriculture: How Tokenization Is Changing Lives in Africa.
