Bitcoin and Ether ETFs attracted billions in November, highlighting rising investor confidence and Ether’s post-election dominance.
The crypto market has been buzzing with renewed enthusiasm as it reached a $3 trillion market cap in mid-November. It sparked unprecedented inflows into Bitcoin and Ether exchange-traded funds (ETFs). This surge has been buoyed by rising optimism among institutional investors, further fueled by Donald Trump’s election victory, which many believe signals a more crypto-friendly era in the United States.
Bitcoin and Ether ETFs Attract Record Inflows
November 2024 proved to be a landmark month for crypto ETFs, with Bitcoin ETFs witnessing an astounding $6.5 billion in net inflows and Ether ETFs pulling in $1.1 billion. These figures represent all-time highs for both assets, highlighting the bullish sentiment that has taken over the market.
Leading the Ether ETF charge are industry giants BlackRock and Fidelity. BlackRock’s ETHA alone has amassed a staggering $2.10 billion in cumulative inflows. Data reveals that Ether ETFs recorded $466 million in inflows during the last week of November, marking a major reversal from the $71.6 million outflow seen the week prior. This surge coincides with a 48% rise in Ether’s price ETH $2 942 24h volatility: 1.2% Market cap: $355.55 B Vol. 24h: $31.44 B over the same period, pushing it to an average trading price of $3,616 at the time of writing.
Bitcoin ETFs, launched earlier this year, have accumulated $30.7 billion in net inflows, while Ether ETFs, which debuted in late July, have garnered $573.3 million to date. The growing appetite for these financial products reflects a shifting market dynamic, with investors increasingly looking to digital assets as an alternative to traditional investment vehicles.
Altcoins Gain Momentum
The broader crypto market has also seen a remarkable transformation. While Bitcoin BTC $87 990 24h volatility: 0.6% Market cap: $1.76 T Vol. 24h: $55.45 B hit a new all-time high of $99,655 in November, it narrowly missed crossing the psychological $100,000 barrier.
Meanwhile, Ether has outperformed Bitcoin since the US election, although it remains below its all-time high of $4,891, set three years ago. Notably, Bitcoin’s market dominance has slipped from 60% to 56%, hinting at the onset of an altcoin season driven by shifting market sentiment.
Among the altcoins, XRP XRP $1.90 24h volatility: 1.2% Market cap: $114.92 B Vol. 24h: $3.88 B has made headlines by reclaiming its position as the third-largest cryptocurrency by market capitalization, surpassing both Solana SOL $125.6 24h volatility: 2.4% Market cap: $70.75 B Vol. 24h: $6.70 B and Tether USDT $1.00 24h volatility: 0.0% Market cap: $186.25 B Vol. 24h: $91.64 B . This resurgence comes amid optimism that the SEC may drop its ongoing appeal against Ripple in their long-standing legal battle.
Meanwhile, the ETF space is expanding beyond Bitcoin and Ether. Asset management heavyweights like Canary Capital and Bitwise are reportedly preparing to launch XRP-focused ETFs, signaling a growing interest in diversifying crypto investment options.
As the crypto market continues to evolve, the convergence of institutional interest, regulatory optimism, and technological innovation could further solidify digital assets’ position in global finance.
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