Published: Thursday, November 21, 2024 · 8:30 AM | Updated: Thursday, November 21, 2024 · 8:30 AM
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As Bitcoin’s price continues to reach new heights, edging closer to the $100,000 mark, the total assets of U.S.-based exchange-traded funds (ETFs) directly investing in Bitcoin have surpassed $100 billion. This milestone was achieved within just ten months of the launch of 12 Bitcoin ETFs, including those from BlackRock and Fidelity Investments, making it one of the most successful fund categories ever issued.
Recent data reveals a significant net inflow of $773 million into these ETFs as Bitcoin hit an all-time high. Bitcoin’s price surged by 3.6% to a record $97,892, contributing to a total net inflow of $5.8 billion into these ETFs since the U.S. elections in early November. Year-to-date, Bitcoin’s price has increased by 129%, outperforming stocks, gold, and other assets.
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