BlackRock’s IBIT Records $513 Million in Daily Inflows, Bitcoin ETFs Total Value Reaches $107.488 Billion

Bitcoin Spot ETFs experienced a significant increase in inflows, totaling $490 million on November 22, marking the fifth consecutive day of positive growth.

Leading the way was BlackRock’s IBIT ETF, which achieved a record-setting $513 million in a single-day inflow, as reported by SoSo Value.

The overall net asset value of Bitcoin Spot ETFs has now reached $107.488 billion, reinforcing their leading position in the crypto ETF market.

Major Bitcoin Holders Increase BTC Reserves

The steady inflows into Bitcoin Spot ETFs coincide with major Bitcoin holders such as MicroStrategy and Metaplanet increasing their Bitcoin assets.

On Monday, MicroStrategy, led by Michael Saylor, disclosed that it has acquired $4.6 billion in Bitcoin.

The company also revealed intentions to raise an additional $1.75 billion through convertible notes to enhance its cryptocurrency portfolio.

Recently, MicroStrategy announced the completion of an offering of 0% convertible senior notes maturing in 2029, raising $3 billion to facilitate further Bitcoin purchases.

This offering consists of an initial $2.6 billion, with an extra $400 million issued under an option exercised by initial purchasers. The transaction was finalized on Thursday.

Similarly, Metaplanet has recently disclosed plans to raise $11.3 million through a third series of ordinary bonds to aid its Bitcoin acquisition efforts.

The prevailing macroeconomic uncertainties, marked by rising inflationary pressures and geopolitical tensions, have led corporate treasurers to consider Bitcoin as a reserve asset.

On November 22, Bitcoin spot ETF recorded a total net inflow of $490 million, continuing for five consecutive days. BlackRock ETF IBIT had a single-day net inflow of $513 million. The total net asset value of Bitcoin spot ETF stands at $107.488 billion. https://t.co/59u0BnEqLG pic.twitter.com/HPRzaFyOby

— Wu Blockchain (@WuBlockchain) November 23, 2024

Recently, digital asset prime services platform Abra introduced a service aimed at corporations looking to hold cryptocurrencies as reserve assets on their balance sheets.

Ethereum Spot ETFs also saw a significant rebound on November 22, after experiencing six consecutive days of outflows.

Total inflows reached $91.2 million, with BlackRock’s ETHA ETF contributing $99.67 million.

Cboe to Introduce Bitcoin ETF-Linked Options

Cboe Global Markets Inc. is preparing to launch the first cash-settled index options linked to Bitcoin’s spot price on December 2.

These options will be based on Cboe’s ETF Index, which monitors a variety of U.S.-listed spot Bitcoin ETFs.

This initiative follows Nasdaq’s recent rollout of Bitcoin ETF options, allowing investors to hedge risks or speculate on Bitcoin’s price fluctuations through derivatives.

Historically, crypto derivatives such as options and futures have been primarily traded outside the U.S. due to regulatory hurdles.

However, growing institutional interest and a more favorable regulatory landscape have prompted major exchanges like Cboe to expand their offerings.

Other significant players, including Grayscale and BlackRock, have also ventured into options trading, further enhancing the market’s liquidity and attractiveness.

Bitcoin ETFs have continued to gain momentum, now accounting for 5.33% of all mined Bitcoin.

Notable price peaks in March and November were associated with $4 billion in ETF inflows, highlighting the influence of these funds on market dynamics.

Bitcoin ETF trading volumes exceeded $7.22 billion earlier this month, while Ethereum ETFs saw $295 million in inflows, driven by institutional interest from firms like BlackRock and Fidelity.

BlackRock’s Bitcoin ETF remains a market frontrunner, with assets under management (AUM) reaching $40 billion, positioning it among the top 1% of global ETFs.

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