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Bitcoin Spot ETFs Saw $555.8M Net Inflows On 'Monster' Monday

U.S. Spot Bitcoin BTC/USD ETFs witnessed a $555.8 million surge in inflows on Monday, with ten out of 12 ETFs reporting net inflows.

What Happened: The Fidelity Wise Origin Bitcoin Fund FBTC led the inflows, attracting $239.25 million. Bitwise Bitcoin ETF BITB followed with $100 million, according to data from SoSoValue.

BlackRock’s iShares Bitcoin Trust IBIT, the largest spot bitcoin ETF by net assets, reported $79.5 million in net inflows. Other ETFs like ARK 21Shares’ Bitcoin ETF ARKB and Grayscale Bitcoin Trust GBTC also recorded significant inflows.

This single-day net inflow marks the highest since July.

ETF Store president Nate Geraci called it a “monster day” and highlighted that the cumulative total net inflow since their January launch now stands at $19.36 billion, stating, "Now approaching $20 billion net inflows in [10 months], Simply ridiculous & blows away every pre-launch demand estimate."

Spot Ethereum ETH/USD ETFs witnessed net inflows worth $17.07 million, a new high for October. Since their launch, Ethereum ETFs have seen a cumulative net outflow of $541.82 million.

Why It Matters: The surge in inflows into bitcoin ETFs comes amid a growing bullish sentiment among ETF investors. A recent Schwab Asset Management study indicated that 75% of ETF investors are confident their portfolios would recover from a deep recession or black swan event.

ETFs currently constitute 27% of ETF investor portfolios, with a significant 65% of investors intending to augment their ETF investments in the forthcoming year.

A shift in political winds, perceived as more crypto-friendly, has also contributed to the inflow surge. Polymarket data shows pro-crypto candidate Donald Trump's winning probability stands at 57% compared to 43% of Kamala Harris.

Price Action: In the past 24 hours, BTC and ETH are trading 1.4% and 2.1% higher, respectively.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.