Institutional investors have returned with a record inflow into bitcoin ETFs of $1.4 billion

Eleven spot bitcoin ETFs in the US recorded a record inflow day as on November 7, $1.37 billion entered institutional investment products.

The massive inflow comes after bitcoin reached a new all-time high just below $77,000 following Donald Trump’s victory in the presidential elections this week and after the US central bank cut rates again by 0.25 percent.

The total amount invested in spot bitcoin ETFs has now reached $25.5 billion, according to Farside Investors.

Bitcoin ETF Mania

BlackRock’s leading IBIT fund recorded an incredible $1.12 billion inflow in just one day. This is the highest inflow day for the product since its launch in January, bringing the fund’s total flows to $27 billion.

According to its official website, the BlackRock iShares Bitcoin Trust has assets under management of $32.8 billion or 432,674 bitcoins.

Bloomberg’s senior ETF analyst, Eric Balchunas, although he expected large inflows, was still surprised, emphasizing that this is by far the largest single-day inflow of any bitcoin ETF ever.

The record inflow day reverses a trend of outflows from IBIT over the past two trading days, which saw $113 million leave the ETF. The only other significant inflow for that day was $191 million into Fidelity’s FBTC ETF. Bitwise, Ark 21Shares, and Grayscale also recorded smaller inflows ranging from $13 to $20 million.

About $2 billion has entered spot bitcoin ETFs in the US over the last two days as BTC rose to its highest level on November 7, and crypto markets continue to grow.

Awakening of Ethereum ETFs

Ethereum ETFs also recorded a massive inflow, with the largest since August 6 of $79.7 million. BlackRock (ETHA) and Fidelity (FETH) funds collected the lion’s share of those inflows, with $23.7 million and $28.9 million, respectively.

Although these numbers are small compared to bitcoin ETF flows, it should be noted that the price and market capitalization of Ethereum are still a fraction of the price and market capitalization of bitcoin.

The large inflow of Ethereum ETFs reduced the total flow to a negative $410 million, a result of ongoing outflows from Grayscale’s high-fee ETHE fund.

Despite this, the last three days have recorded zero outflows, indicating that the exodus may be waning. Ethereum ETFs could be poised for a surge, especially if ether continues to rise.