Daily Digest: ETH ETF single-day net inflows hit a record high, MicroStrategy announces additional $2 billion BTC holdings.

According to Farside Investor data, the net inflow of BTCSpot ETF in the United States was $1.093 billion yesterday, with BlackRock IBIT receiving $0.736 billion, Fidelity FBTC receiving $0.135 billion, and Ark ARKB receiving $0.108 billion.

BlackRock's BTCETF IBIT, has Assets Under Management surpassing one of the largest gold ETFs - iShares IAU. According to FactSet data, IBIT has received approximately $1 billion in inflows in the past week, with a total inflow of $27 billion since its launch in January. As of last Friday, IBIT's Assets Under Management is $34.3 billion, slightly higher than IAU's Assets Under Management of just under $33 billion.

Yesterday, the US ETHA Spot ETF saw a net inflow of $194 million, marking the fourth consecutive day of large net inflows and achieving the largest single-day inflow since the launch of the ETH ETF. Among them, Fidelity's FETH saw an inflow of $115 million, Grayscale's Ethereum Mini saw an inflow of $63.3 million, and BlackRock's ETHA data has not been updated yet.

CoinShares: Net inflows of digital asset investment products reached $1.98 billion last week

According to the latest weekly report from CoinShares, digital asset investment products saw a record $1.98 billion inflow in the United States after the presidential election, marking the fifth consecutive week of inflows and bringing the year-to-date inflow to a record $31.3 billion. The global managed asset scale also reached a new historical high of $116 billion, influenced by last week's price pump. The volume increased by $20 billion, reaching the highest level since April this year, although it is not a new record.

From the perspective of regions, the inflow of these funds is mainly concentrated in the United States, with an inflow amount of 1.95 billion US dollars, although the inflow in Switzerland and Germany has also increased, reaching 23 million US dollars and 20 million US dollars respectively.

MicroStrategy increased its holdings by approximately $2.03 billion, acquiring 27,200 BTC

MicroStrategy founder Michael Saylor posted on social media that MicroStrategy has acquired approximately 27,200 BTC at an average price of $74,463, with a total value of about $2.03 billion.

As of November 10, 2024, MicroStrategy holds 279,420 BTC with a total acquisition cost of approximately $11.9 billion and an average purchase price of approximately $42,692.

Standard Chartered Bank: Expects SOL to outperform BTC and ETH by the end of 2025

Standard Chartered Bank stated in a research report that if the Republican Party wins comprehensively, the new U.S. government will be able to promote policies favorable to the digital asset industry, which may lead to a total market capitalization of the crypto market expanding to $100 trillion by the end of 2026.

Standard Chartered Bank has stated that they believe the new US government will have a series of factors favorable to the encryption market in the early stage, including regulatory changes and adjustments to the Securities and Exchange Commission (SEC) positions, which may lead to a more relaxed stance on digital assets.

The bank said these positive developments could quadruple the total market cap of the encryption market from the current $2.5 trillion to $10 trillion by the end of 2026. Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, wrote: "The rise tide should drive all digital assets, with those most relevant to end-use cases expected to benefit the most." The report also said that the new U.S. government may consider building up BTC reserves, but this is seen as "a low-probability but high-impact event".

The bank reiterated its target for BTC (Bitcoin) to reach around $200,000 by the end of 2025, with a target of $10,000 for Ethereum (ETH), and it expects Solana (SOL) to outperform the two largest cryptocurrencies in terms of market capitalization.

Market Analysis: ACT skyrocketed more than 20 times during the day, AI zone collectively pumped

Market Hotspots

on-chain meme coin ACT and PNUT have surged, with ACT rising more than 20 times in a single day. ACT is one of the two AI memes funded by a16z, the other being GOAT; ACT currently has a circulating Market Cap of $400 million, while GOAT has a circulating Market Cap of $820 million. ACT has more listings on mainstream exchanges, leaving room for further Market Cap growth. PNUT is a squirrel meme project that has frequently appeared on Elon Musk's Twitter in the past. Its value surged more than 8 times in a single day, and there is a high possibility of further support from Musk in the future. PNUT currently has a circulating Market Cap of $390 million.

The old-school meme leading DOGE continues to soar, pumping nearly 20% intraday, with a market capitalization of $50 billion, ranking 6th in the market, 40% behind BNB, which ranks fifth. DOGE is the most well-known meme in the cryptocurrency market, benefiting from Musk's influence and the U.S. election. DOGE is not far from its historical high of $0.7.

AI zone WLD, IO, AI, FET and other collective pump, AI zone is one of the most important narratives in this round of market, plus the hot performance of AI meme GOAT and ACT, so the overall performance of AI zone is relatively strong;

Market Trend

BTC breaks through $89,000, hitting a new all-time high, with favorable macroeconomic and policy factors injecting more vitality into BTC;

ETH broke through $3,300. Yesterday, ETH ETF saw a large inflow of over $200 million, setting a record for the largest daily inflow since the listing of ETH ETF.

Alts generally pump, and the overall effect of AI zone is good. When the altcoin season comes, the on-chain meme performs better;

Macro News: U.S. stocks closed higher as the probability of rate cuts in December decreased

The major U.S. indices continued to hit record highs. As of the close, the Dow rose 0.69% to 44,293.13 points, the S&P 500 rose 0.1% to 6,001.35 points, and the Nasdaq rose 0.06% to 19,298.76 points. This is the first time the Dow has closed above 44,000 points and the first time the S&P has closed above 6,000 points. Crypto asset-related stocks saw a significant rise, with Gan & Tech rising over 41%, MicroStrategy rising over 25%, and Coinbase rising over 19%.

Clark Geranen, chief market analyst at CalBay Investments, said that the S&P 500 breaking through the 6000-point mark is a "psychologically important milestone," which may attract more investors' interest in stocks, as there is still a lot of money waiting on the sidelines in money market funds and bonds. Some institutions also believe that the uncertainty of Trump's second term economic prospects and the Fluctuation of the bond market still keep investors vigilant about more turbulence in the future.

"The initial reaction of the market after the election was to pick and choose which policy possibilities to deal with. Our experience is that this narrow response has historically not led to lasting investment opportunities, and we tend to pause and take a closer look at possible major policy moves," said Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute.

Author: Icing, Gate.io Researcher This article represents only the author's point of view and does not constitute any trading advice. This content is original, and the copyright belongs to Gate.io. If you need to reprint it, please indicate the author and source, otherwise legal responsibility will be pursued.