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Investors Regain Confidence in Bitcoin: Spot BTC ETFs End Outflow Streak
Major investors have regained confidence in Bitcoin, allowing spot BTC ETFs to end a six-day outflow streak and attract $240 million on Thursday.
According to SoSoValue, on November 6, the largest inflow was recorded in BlackRock’s IBIT, with $112.4 million.
It was followed by Fidelity’s FBTC with $61.6 million, ARKB from Ark & 21Shares with $60.4 million, and Bitwise’s BITB, which saw $5.5 million in inflows.
Yesterday, total trading volume for spot Bitcoin ETFs reached $4.77 billion, compared to $4.07 billion the previous day.
The inflows ended a six-day streak of outflows during which $2.05 billion was withdrawn from ETFs.
At the same time, U.S. spot Ethereum ETFs recorded a net inflow of $12.5 million, also breaking a six-day run of consecutive outflows.
Over the past 24 hours, Bitcoin fell 1.32% to $101,919, dropping about 7% over the past week.
Ethereum declined 1.2% to $3,345.
According to JPMorgan analysts, the flagship cryptocurrency could rise to around $170,000 within the next 6–12 months.
Experts compared its value to gold, adjusted for volatility.
See also: "Zcash Cryptocurrency Rises 1,400% Since Early Autumn — Who’s Next?"
