Institutional interest in Bitcoin ETFs continues to grow, with significant inflows recorded during the Thanksgiving week. Bitwise Asset Management saw remarkable activity, as CEO Hunter Horsley disclosed on X. Bitwise’s BITB ETF clocked $26 million inflows on a half trading day.
Bitwise Bitcoin ETF’s Inflows Surge
Horsley wrote on X “$26,000,000 of inflows into $BITB today and $82M of volume in just 3.5 hours with short market day.” He further stated, “People want more Bitcoin. Things are just getting started.” As of writing, the BITB ETF holds $3.95 billion in assets under management (AUM).
$26,000,000 of inflows into $BITB today and $82M of volume in just 3.5 hours with short market day.
People want more Bitcoin.
Things are just getting started.Happy Thanksgiving!
~~
BITB Disclosures & Prospectus: https://t.co/GBMUFmIa4PBITB is not an investment company…
— Hunter Horsley (@HHorsley) November 29, 2024
Earlier, on Wednesday, November 27 the market witnessed robust activity in Bitcoin ETFs, with total inflows amounting to $103 million for the day. Bitwise led with $48 million in inflows, while Fidelity recorded $40.2 million. These figures underscore a sustained increase in institutional demand for Bitcoin-backed investment products.
Despite these developments, BlackRock, the largest asset manager globally, reported no inflows during the same period, marking the second consecutive day of no flows. However, the activity in other spot Bitcoin ETFs points to increasing confidence in Bitcoin as an institutional-grade investment.
BTC Price Rallies
Today, Bitcoin price reclaimed the $98,000 mark but recorded a slight retracement thereafter. Nonetheless, BTC continued posting gains trading at $97,381.01, up by 2.60% at the time of writing on Friday, November 29.
Analysts expect BTC to rally higher and attain the psychologically critical level of $100,000 soon. Meanwhile, corporate leaders like MicroStrategy and MARA have also upscaled their Bitcoin holdings. Moreover, President-elect Donald Trump has announced plans of creating a BTC strategic reserve after he enters the White House in January 2025.
Also Read: Putin Passes New Tax Laws for Crypto Amid Bitcoin Surge Towards $100K
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