Bitcoin ETFs hit $6.4B inflows in November amid record BTC rally

United States investors poured over $6.4 billion into spot Bitcoin exchange-traded funds (ETFs) in November as the BTC market price rallied 45% above the $99,000 level for the first time in history.

A month-long bull run in November resulted in Bitcoin ( BTC ) prices shooting up from roughly $68,000 to $99,000. Amid bullish sentiments, spot BTC ETFs raked in a combined $6.87 billion, with outflows of $411 million during the month. 

According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust ETF (IBIT) brought in $5.6 billion of investments in November, accounting for almost 87% of the total monthly inflows. 

Total investment inflow and outflow of the US spot Bitcoin ETF market. Source: Farside Investors

Investors showcase confidence in Bitcoin price

Other prominent players that attracted significant investments include Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $962 million, Grayscale’s Bitcoin Mini Trust ETF (BTC) at $211.5 million and the VanEck Bitcoin ETF (HODL) at $71.2 million.

Continued inflow of funds from institutions and private investors amid high BTC market prices is expected to support the ongoing bull run. Traders and analysts have predicted “insane long opportunities” for Bitcoin in the coming months, suggesting BTC has entered a price discovery phase.

Related: Spot ETH ETFs clocks highest daily inflow day: ‘Alt rotation has begun’

On the other hand, three players contributed to the $411 million in monthly outflows. The Grayscale Bitcoin Trust ETF (GBTC), Bitwise Bitcoin ETF (BITB) and Valkyrie Bitcoin Fund (BRRR) recorded outflows of $364 million, $40.4 million and $6.8 million, respectively.

The Crypto Fear & Greed Index, an analysis of investor sentiment maintained by Alternative.me, also projected a strong bullish sentiment in November.

A one-year plot of the Fear & Greed Index. Source: Alternative.me

Bullish investment sentiment across November

On Nov. 22, the Crypto Fear & Greed Index marked its yearly all-time high at 92, signaling solid bullish sentiment among investors .

Stepping into December, the index score dipped but continues to portray extremely positive sentiment. Data from Cointelegraph Markets Pro and TradingView show that BTC eased into trading sideways at $96,000 in December.

Bitcoin market price for November 2024. Source: TradingView

Read Cointelegraph’s guide to learn more about analyzing the Crypto Fear & Greed Index to build effective investment strategies.

Magazine: 5 incredible use cases for Based Agents and Near’s AI Assistant