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The spike comes amid renewed post-election optimism in the U.S. crypto market. The increased trading follows Bitcoin’s latest rally, where it crossed $88,000. It outpaced silver’s market cap and positioned Bitcoin as the world’s eighth-largest asset at a $1.736 trillion valuation. The impressive figures highlight growing institutional interest. BlackRock’s IBIT ETF has played a central role since its launch. IBIT saw two consecutive days of high activity last week, including a record net inflow of over $1 billion, the largest since the fund’s inception.
Some analysts advise caution, noting that while high volumes suggest strong interest, they can also indicate increased selling. Bloomberg ETF expert Eric Balchunas suggests it may take days to assess if these volumes translate into steady net inflows.
Ethereum ETFs Set Record Inflows as Institutional Demand Grows
While the Bitcoin ETFs saw a trading frenzy, Ethereum-based ETFs reached new highs in terms of inflows. In the week that ended on November 10, US Ethereum ETFs raised over $295 million. BlackRock’s Ethereum Trust remained atop with 101 million dollars in new funds from investors. It was seconded by Fidelity’s Ethereum Trust, FETH, posting $115 million in inflows.
Ethereum ETFs have also been attracting consistent institutional interest; as Michigan’s largest public pension fund recently invested in Ethereum ETFs. This is considered one of the most significant nods to Ethereum’s growing popularity among the traditional finance players.
Now that the buzz over the U.S. election has ended – the crypto market looks for any signal that institutional interest in the space hasn’t dried up. These record volumes speak to the maturation that is occurring with increased adoption by institutions. They now view these ETFs as investable assets: a now-cemented place of Bitcoin and Ethereum in mainstream finance.
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