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

Bitcoin Spot ETFs saw a surge in inflows, with $490 million recorded on November 22, marking a fifth consecutive day of positive momentum.

BlackRock’s IBIT ETF led the charge with a record-breaking $513 million single-day inflow, according to data from SoSo Value.

The total net asset value of Bitcoin Spot ETFs has now reached $107.488 billion, solidifying their dominance in the crypto ETF space.

Major Bitcoin Holders Expand BTC Reserve

The consistent inflows into Bitcoin Spot ETFs come as major Bitcoin holders like MicroStrategy and Metaplanet have expanded their Bitcoin holdings.

On Monday, Michael Saylor’s MicroStrategy revealed it has acquired $4.6 billion worth of Bitcoin.

The firm also announced plans to raise an additional $1.75 billion through convertible notes to increase its cryptocurrency holdings.

More recently, MicroStrategy said it has completed an offering of 0% convertible senior notes due in 2029, raising $3 billion which will be used to purchase more Bitcoin.

The offering includes an initial $2.6 billion, with an additional $400 million issued under an option exercised by initial purchasers. The purchase was finalized on Thursday.

Likewise, Metaplanet recently announced plans to raise $11.3 million through a third series of ordinary bonds to support its Bitcoin acquisition.

The ongoing macroeconomic uncertainties, characterized by increasing inflationary pressures and geopolitical tensions, have prompted corporate treasurers to explore the inclusion of Bitcoin as a reserve asset.

Just recently, digital asset prime services platform Abra launched a service designed for corporates seeking to hold cryptocurrencies as reserve assets on their balance sheets.

Ethereum Spot ETFs also experienced a notable rebound on November 22, following six consecutive days of outflows.

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

Cboe to Launch Bitcoin ETF-Linked Options

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

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

The move follows Nasdaq’s recent introduction of Bitcoin ETF options, enabling investors to hedge risks or speculate on Bitcoin’s price movements through derivatives.

Historically, crypto derivatives like options and futures have been traded primarily outside the U.S. due to regulatory challenges.

However, increasing institutional interest and a more favorable regulatory environment have encouraged major exchanges like Cboe to broaden their offerings.

Other major players, including Grayscale and BlackRock, have also expanded into options trading, further boosting the market’s liquidity and appeal.

Bitcoin ETFs have continued to gain traction, now holding 5.33% of all mined Bitcoin.

Significant price peaks in March and November correlated with $4 billion in ETF inflows, showcasing the impact of these funds on market dynamics.

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

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

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