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Ether ETF Inflows Hit Record, Bitcoin Inflows Soar as BTC Eyes $90K
Bitcoin and ether ETF inflows soared on one of the biggest days in the BTC's history.
Updated Nov 12, 2024, 10:06 a.m. Published Nov 12, 2024, 10:06 a.m.
- Ether U.S. spot-listed ETFs recorded the largest net inflow since their introduction, adding almost $296 million.
- Bitcoin overtook silver as the planet's eighth-largest asset by market cap.
Investors poured money into U.S. spot crypto exchange-traded funds (ETFs) on Monday as bitcoin , the largest token by market capitalization, climbed to a record just shy of $90,000.
Flows into ether ETFs hit a record $295.5 million, with BlackRock's ETHA and Fidelity's FETH both gathering a net $100 million, data from Farside Investors shows.
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Bitcoin ETFs netted a whopping $1.1 billion, the second-highest amount on record according to SoSoValue data, as the token's market cap climbed to a record $1.78 trillion, overtaking silver as the eighth-largest asset by market cap on the planet. The lion's share, $765.5 million, was funneled into the iShares Bitcoin Trust (IBIT) with Fidelity's FBTC gaining $135.1 million.
"Assets in the US spot bitcoin ETFs are now up to $84b, which is 2/3 of the way to what gold ETFs have, all the sudden there's a decent shot they surpass gold before their first birthday (we predicted it would take 3-4yrs)," Eric Balchunas, a senior analyst at Bloomberg, said in a post on X.
The records didn't just stop at pure crypto investments. Shares of Microstrategy (MSTR), the publicly traded company with the largest stash of BTC, hit a record high. Crypto exchange Coinbase (COIN) topped $320 for the first time since November 2021.
"The Bitcoin Industrial Complex (ETFs + MSTR, COIN) saw $38b in trading volume today, with lifetime records being set all over the place, including IBIT, which did $4.5b. This points to a robust week of inflows. It was just an insane day; it really deserves a name a la Volmageddon," Balchunas said in a separate post.
As of press time, bitcoin is trading at $88,000 and ether around $3,400.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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