Reports from financial institutions and cryptocurrency data aggregators

BlackRock's Bitcoin ETF Tops 500,000 BTC Amid Record $6.4B November Inflows as Price Hits $99K

Dec 3, 2024, 05:17 AM

In November 2024, Bitcoin spot exchange-traded funds (ETFs) recorded a record net inflow of approximately $6.4 billion, bringing the total net asset value to $103.909 billion and reflecting heightened institutional and retail interest. BlackRock's iShares Bitcoin Trust (IBIT) led the surge, capturing $5.6 billion—accounting for 87% of the monthly inflows—and surpassing 500,380 BTC under management, equivalent to over $48 billion in assets and representing about 2.38% of all Bitcoin in circulation. The influx of capital into Bitcoin ETFs coincided with the cryptocurrency's rally to a new high of $99,000 in November. On December 2nd alone, Bitcoin spot ETFs saw net inflows of $353 million, purchasing 4,340 BTC, with BlackRock’s ETF accounting for $338 million of that amount.