


Since Donald Trump became president-elect, nearly $10 billion has flowed into US exchange-traded funds (ETFs) directly tied to Bitcoin, signaling investor optimism about his crypto-friendly stance.
These funds, managed by issuers like BlackRock Inc. and Fidelity Investments, have attracted around $9.9 billion in net inflows since Election Day on November 5, boosting their total assets to approximately $113 billion, according to Bloomberg.
Trump recently appointed a digital-asset advocate to lead the US Securities and Exchange Commission and named the first White House czar for artificial intelligence and cryptocurrency. He has pledged to replace the current administration’s cautious approach with supportive policies, including the idea of a strategic national Bitcoin reserve. Once a crypto skeptic, Trump shifted his stance as the industry rallied behind him during the election.
Bitcoin reached a record high of $100,000 on December 5 before retreating slightly to $98,860 by late Monday morning in Singapore. This six-week streak of gains marks the longest rally since 2021. However, the market experienced volatility, with Bitcoin briefly dipping toward $92,000, prompting caution about its short-term trajectory. A sustained climb beyond $100,000 may depend on additional favorable developments, according to David Lawant, head of research at crypto brokerage FalconX.
Meanwhile, US regulators have approved spot-Ether ETFs, which have attracted nearly $2 billion in net subscriptions following Trump’s victory. Ether, the second-largest cryptocurrency, has recently outpaced Bitcoin in performance.
Paraphrasing text from "Bloomberg" all rights reserved by the original author