In November, U.S.-based spot Bitcoin exchange-traded funds (ETFs) recorded a substantial $6.46 billion in net inflows as Bitcoin’s market price soared 45%, reaching an unprecedented $99,000. This inflow underscores growing institutional and retail confidence in Bitcoin during a robust market surge.

Leading the charge was BlackRock’s iShares Bitcoin Trust, which amassed $5.6 billion roughly 87% of the total monthly inflows. Fidelity’s Wise Origin Bitcoin Fund also drew significant attention with $962 million, followed by Grayscale’s Bitcoin Mini Trust at $211.5 million and VanEck’s Bitcoin ETF at $71.2 million. Together, these funds reflect the increasing appeal of Bitcoin-based financial products among investors.

While inflows dominated, a few funds saw notable outflows. Grayscale’s primary Bitcoin Trust faced the largest outflow at $364 million, followed by Bitwise’s ETF with $40.4 million and Valkyrie’s Bitcoin Fund with $6.8 million.

Investor sentiment remained overwhelmingly positive throughout November. The Crypto Fear & Greed Index, a key indicator of market psychology, reached a peak score of 92, reflecting extreme bullishness. Although the index dipped slightly moving into December, optimism persists, suggesting continued upward potential.

Analysts anticipate further growth, forecasting significant “long opportunities” as Bitcoin enters a phase of price discovery. This ongoing institutional support could sustain the bull run, with experts closely watching for continued ETF inflows and broader market trends.