US spot Bitcoin ETFs have hit a milestone of $100 billion in assets under management (AUM), fueled by strong inflows and a surge in Bitcoin price to $98,000.
In a major milestone, the US spot Bitcoin ETFs have touched another major milestone of $100 billion in assets under management. This is due to strong inflows into ETFs coupled with the Bitcoin price BTC $109 802 24h volatility: 2.8% Market cap: $2.19 T Vol. 24h: $39.67 B appreciation to $98,000 recently.
Bloomberg’s senior ETF analyst Eric Balchunas, recently reported that the Bitcoin ETH AUM has crossed approximately $104 billion following an overnight BTC price surge. This milestone happens just within 10 months of launch since January 2024.
During the same period, the total inflows into spot BTC ETFs are approaching $30 billion, underscoring the robust investor interest. Bitcoin ETFs are now 97% of the way to surpassing Satoshi Nakamoto — the pseudonymous Bitcoin creator — as the largest BTC holder.
Additionally, Balchunas also reported that the Bitcoin ETFs are also 82% of the way to overtaking gold ETFs. It will be a testament to Bitcoin’s growing prominence as a store of value and investment asset. For reference, the total AUMs in the gold ETFs listed in the United States is currently $127 billion, said Blachunas.
Amid the Bitcoin price approaching the $100K level, the inflows into spot Bitcoin ETFs have also skyrocketed this week. Over the last two days, the total inflows have crossed $700 million consecutively each day.
However, BlackRock’s IBIT has been dominating more of the inflows coming into these investment products. IBIT has already grossed more than $30 billion in inflows since its inception and it’s nearly thrice as its immediate competitor i.e. Fidelity FBTC.
Bitcoin ETF Options are Roaring, BlackRock Dominates
The first day of options trading for BlackRock’s iShares Bitcoin Trust ($IBIT) saw remarkable activity, generating nearly $1.9 billion in notional exposure through 354,000 contracts. Of these, 289,000 were call options, while 65,000 were puts, reflecting a bullish call-to-put ratio of 4.4:1. The robust trading coincided with Bitcoin’s surge to new all-time highs, highlighting the growing market impact of these options.
Spot Bitcoin ETF options trading yesterday was heavily skewed towards $IBIT, which accounted for 97% of total volume. Bloomberg analyst James Seyffart hopes that the imbalance will stabilize as arbitrageurs and quantitative traders engage more actively.
The spot #bitcoin ETF options volume breakdown yesterday was HEAVILY tilted towards $IBIT. Ironically IBIT traded almost the same as its first day right around $1.9 billion in notional exposure but it took 97% of the volume. Hopefully this evens out a bit with arbs/quants etc pic.twitter.com/OtNSGLVbRn
— James Seyffart (@JSeyff) November 21, 2024
With the Bitcoin price rallying towards $100K levels, analysts are expecting that the rally would continue even further amid the massive $9.7 billion stablecoin supply coming to the market. Market analysts are also predicting a Bitcoin rally to $130K which would eventually allow Bitcoin ETFs to overtake the Gold ETFs.
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