On November 18, 2024, the U.S. spot Bitcoin ETF sector reported a net daily capital inflow of $254.82 million, according to SoSo Value. This marked the first positive trading day after two consecutive days of outflows that totaled $770.77 million. Seven ETFs contributed to the capital influx, with iShares Bitcoin Trust leading the pack at $89.33 million. Five other products showed no change in capital movement.

Potential Drivers Behind the Shift

One possible reason for this positive shift is the anticipated start of options trading on ETF shares, set to commence on November 19, 2024. The U.S. Securities and Exchange Commission (SEC) approved these options back in October, sparking renewed investor interest in the sector.

Ethereum ETFs Show Continued Outflows

In contrast, the spot Ethereum ETF sector did not experience a similar positive change. It recorded a net daily outflow of $39.08 million, with three funds, including one managed by BlackRock, reporting negative capital movement. Only Fidelity Investments‘ product saw a modest inflow. This sector has faced continuous outflows for the past three days, amounting to $102.19 million.

International Context

In Hong Kong, spot Bitcoin ETFs experienced an inflow totaling 238.68 BTC. Data on spot Ethereum ETFs in the region, however, remains unavailable.

This shift in the U.S. spot Bitcoin ETF market may indicate growing investor optimism, potentially fueled by the upcoming options trading, suggesting a new phase for digital asset investment.