The post Spot Bitcoin ETF Buying Hits 3rd Highest Monthly Since Launch appeared on BitcoinEthereumNews.com.

Key Points: US spot Bitcoin ETFs reached a record 71,570 coins in November, with over $30 billion in total inflows since their January debut. Options on spot Bitcoin ETFs launched on major exchanges like Nasdaq and NYSE, with CBOE set to join on Dec. 2. US spot Bitcoin ETFs hit record highs in November, with holdings reaching a high of 71,570 Bitcoin, the third-highest month since launch. Read more: Spot Bitcoin ETFs Now Hold 5% of the Total Bitcoin Supply  US Spot Bitcoin ETFs Reach Record High in November According to data from SoSoValue, these funds saw inflows of $320 million on Nov. 29, bringing the total to more than $30 billion since trading began in January. BlackRock‘s iShares Bitcoin Trust has been one of the top performers, with record trading volumes well above those of gold-backed ETFs. The advent of these products has increased access to cryptocurrency investments and attracted more mainstream investors. Adding to the momentum, options on spot Bitcoin ETFs launched on the Nasdaq and New York Stock Exchange last week, expanding the array of instruments for investors to trade. CBOE Global Markets Inc. is due to join in, with its inaugural cash-settled Bitcoin ETF options slated for a Dec. 2 debut. Bitcoin has jumped forward as hopes for regulatory clarity have come closer. Bitcoin gained 38 per cent throughout the month-by-month gain, the highest since February when it soared by 45 per cent after the deployment of spot Bitcoin ETFs. November’s rally was also recorded as the strongest performance of Bitcoin since November 2021’s record-setting, all-time highs. According to market analysts, part of the rise is attached to speculations on a re-election election bid by former president Donald Trump. Trump has termed himself a pro-to-crypto candidate, calling for clarity over what many believe is a restrictive,…

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Filed under: News - @ December 1, 2024 3:20 am