SAEDNEWS: On December 4, Bitcoin exchange-traded funds (ETFs) saw a fresh surge with net inflows of $129 million, while Ethereum funds simultaneously attracted $78 million. Fidelity and BlackRock led the inflows, as Bitcoin broke November’s downtrend, diverging from its historical pattern.
According to the Digital Currency Service of Saed News, Bitcoin exchange-traded funds (ETFs) recorded a net inflow of $129 million on November 24, while Ethereum funds attracted an additional $78 million. This surge coincided with rising demand, breaking Bitcoin’s downward trend for November.
Fidelity led the pack with $170.8 million, followed by BlackRock with $83.01 million. Total inflows into Bitcoin funds reached $57.61 billion. In the Ethereum sector, BlackRock contributed $46.09 million, while Fidelity added $47.54 million, securing the largest shares.
Launch of Dogecoin and XRP Funds
Grayscale’s Dogecoin fund debuted with $1.4 million in trading volume on its first day—below analysts’ expectations. Meanwhile, XRP funds attracted nearly $130 million on their opening day.
Bitcoin Breaks Its Historical November Trend
Bitcoin is ending November on a decline, breaking its historical pattern as the strongest month of the year. Bitfinex analysts attribute the recent drop to aggressive buying in the $106,000–$118,000 range and note that many of these buyers are now exiting at a loss.
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