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    Bitcoin’s price surge to $90,000 triggers massive investments in US crypto ETFs

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    Bitcoin’s price spike to nearly $90,000 in early November prompted a flood of investments into Bitcoin exchange-traded funds (ETFs) in the US. From Nov. 6–11, approximately $2.6 billion was invested into US Bitcoin ETFs, led by companies like BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund. Nov. 11 also saw a record one-day inflow for US-based Ether ETFs at $294.9 million.

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    When Bitcoin’s price hit nearly $90,000 in early November, tons of money poured into Bitcoin “exchange-traded funds” (ETFs) in the US.

    On Nov. 6, the price of Bitcoin took off, charging from $69,000 to almost $90,000 in just a week. This sudden rise in Bitcoin’s price got people excited and scared they’d miss out. So, both everyday folks and big-time investors ramped up their Bitcoin investments.

    The result of all this excitement? In the week from Nov. 6–11, about $2.6 billion was invested into Bitcoin ETFs in the US, according to figures from Farside Investors.

    Every single one of the 11 Bitcoin ETFs in the United States lured in investments during this Bitcoin boom. The biggest winner was BlackRock’s iShares Bitcoin Trust, which took in over $2 billion.

    Other big gains were seen by Fidelity’s Wise Origin Bitcoin Fund, the Bitwise Bitcoin ETF, and ARK 21Shares Bitcoin ETF. These funds managed to attract $668.3 million, $180 million, and $253.2 million, respectively.

    Even the Grayscale Bitcoin Trust, which has notoriously led to a whopping $20 billion exiting the ETF world, managed to score net positive investments during this surge in Bitcoin. Farside Investors data shows that Grayscale’s two Bitcoin ETFs combined pulled in $219.8 million since Nov. 6.

    This surge in investments didn’t stop with Bitcoin. It also affected Ether, another type of cryptocurrency. On Nov. 11, US-based Ether ETFs had their biggest one-day inflow of investments since they launched in July, with an impressive $294.9 million rolling in. That crushed the previous one-day record of $106.6 million set on launch day.

    “Ethereum is starting to catch a bid,” said BTC Markets crypto analyst Rachael Lucas, noting that the cryptocurrency has been behind this cycle but is finally starting to pick up.

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