Investments in US spot Bitcoin ETFs have soared, driven by the surge in the price of Bitcoin to nearly $90,000.
In a span of just seven days, the price of Bitcoin rose from $69,000 to nearly $90,000.
As a result, both retail and institutional investors increased their exposure to Bitcoin, leading to $2.6 billion in investments in US spot BTC ETFs during the week of November 6-11.
According to data from Farside Investors, BlackRock’s iShares Bitcoin Trust received the largest investments of over $2 billion during this period.
Other ETFs such as Fidelity’s Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and ARK 21Shares Bitcoin ETF also contributed to the weekly inflows with investments of $668.3 million, $180 million, and $253.2 million, respectively.