BlackRock’s IBIT maintains strong inflows of $778.2m despite Bitcoin price correction

BlackRock’s IBIT fund continued to see strong inflows for the fourth consecutive day, with $778.2 million flowing into the fund on Nov. 12, while other ETFs experienced a slowdown as Bitcoin dipped below $86,000.

According to data compiled by SoSoValue, the 12 spot Bitcoin ETFs recorded net inflows of $817.54 million on Tuesday, extending their inflow streak to five consecutive days and bringing the total accumulated inflows to over $4.2 billion. The surge in investment appears to be largely fueled by a wave of market optimism following Donald Trump’s re-election in the U.S., which has had a positive ripple effect on investor sentiment in the crypto space.

BlackRock’s IBIT fund led the influx with $778.27 million, bringing its cumulative net inflows to a record $28.92 billion since its inception. The fund’s sustained inflow pattern shows its appeal as a preferred Bitcoin ETF option, even as other Bitcoin ETFs reported more modest gains or, in some cases, outflows.

Fidelity’s FBTC, Grayscale Bitcoin Mini Trust, and VanEck’s HODL contributed additional, albeit smaller, inflows with $37.2 million, $15.08 million, and $10.13 million, respectively.

Conversely, Grayscale’s flagship GBTC and ARK 21Shares’ ARKB experienced net outflows of $17.79 million and $5.36 million on the same day. This marks a notable shift from the prior day, which had seen positive flows across all 12 Bitcoin ETFs, coinciding with record-high daily trading volumes of $7.31 billion.

The shifts reflect market participants adjusting to recent price fluctuations, as Bitcoin dropped more than 5% from a high of $89,900 to settle near $85,500 on Tuesday.

Bloomberg analyst Eric Balchunas commended the Bitcoin ETFs’ performance, noting that total assets under management for Bitcoin ETFs have surpassed $90 billion, putting them at 72% of the asset levels of gold ETFs.

At the time of writing, Bitcoin (BTC) had slightly recovered from the day’s earlier decline, trading at approximately $86,917, down 1.7% over the 24-hour period.

Ethereum ETFs record $131.9m inflows

Parallel to Bitcoin ETF activity, spot Ethereum ETFs have also enjoyed sustained inflows, with net additions totaling $131.92 million on Nov. 12. This activity represents the fifth consecutive day of net inflows for Ethereum funds, which have accumulated $649 million within the past week.

Notably, Nov. 11 marked a record single-day inflow of $295.48 million for spot Ethereum ETFs.

BlackRock’s ETHA emerged as the leader among Ethereum ETFs, recording $131.45 million in inflows on Tuesday, closely followed by Bitwise’s ETHW, which attracted $16.98 million.

Other Ethereum ETFs, such as Grayscale’s Ethereum Mini Trust, VanEck’s ETHV, and 21Shares’ CETH, received $12.71 million, $6.02 million, and $1.97 million in inflows, respectively. However, Grayscale’s ETHE recorded net outflows of $33.21 million, tempering the overall Ethereum ETF inflows.

As of the latest data, Ethereum’s (ETH) price had decreased by 5.4% over the past 24 hours, trading at $3,151.