Bitcoin ETFs see $814M inflow in one day

Spot Bitcoin (CRYPTO:BTC) ETFs in the U.S. are significantly surpassing the daily mining supply, signaling strong institutional interest.

On November 19, nearly 9,000 BTC, valued at approximately $814 million, were accumulated by various funds, based on data from Coinglass.

This daily influx contrasts sharply with the 450 BTC mined daily, hinting at a potential supply shortage if the pace continues.

The demand for Bitcoin ETFs has been highlighted as a major factor behind the current market rally, which saw Bitcoin achieve an all-time high of just over $94,000 before settling at $92,320 during early trading in Asia.

Analysts believe that the combination of limited supply and high institutional interest could drive continued upward pressure on Bitcoin prices, especially following the recent halving event that has historically contributed to price increases.

Institutional players such as Ark 21Shares, Fidelity, and BlackRock reported significant gains, with inflows of $267.3 million, $256.1 million, and $213.5 million, respectively.

The recent two-day inflow has pushed the total combined investment in Bitcoin ETFs to $28.5 billion since their launch earlier this year, demonstrating sustained interest from large investors.

The introduction of BlackRock’s iShares Bitcoin Trust (IBIT) options has further bolstered market activity, recording nearly $2 billion in notional exposure on its debut day.

This development is seen as a key factor supporting the recent price surge.

“These options were almost certainly part of the move to the new Bitcoin all-time highs today,” Bloomberg ETF analyst James Seyffart noted.

The availability of options is expected to provide institutions with more flexibility and may encourage greater market participation.

At the time of reporting, the Bitcoin (BTC) price was $92,463.72.