How Trump’s Victory is Impacting the US BTC-Spot ETF Market and Bitcoin Demand
As the dust settles after Trump’s unexpected presidential election victory, the crypto market is still feeling the effects. One major trend that has emerged is the significant inflows into US BTC-spot ETFs, indicating a strong demand for Bitcoin.
According to data from Farside Investors for the week ending November 8, the US BTC-spot ETF market saw net inflows of $1,864.8 million. This is slightly lower than the previous week’s inflows of $2,220.2 million. Key players in the market included:
- iShares Bitcoin Trust (IBIT) led the way with net inflows of $1,251.1 million for the week, down from the previous week’s $2,148.9 million.
- Fidelity Wise Origin Bitcoin Fund (FBTC) also saw an increase in inflows, with $295.4 million coming in on Wednesday, compared to $89.8 million in the previous week.
- Bitwise Bitcoin ETF (BITB) had net inflows of $76.8 million, a turnaround from the previous week’s outflows of $12.3 million.
- However, ARK 21Shares Bitcoin ETF (ARKB) experienced net outflows of $6.2 million, compared to the previous week’s outflows of $38.9 million.
One standout day was Thursday, November 7, when IBIT reported net inflows of $1,119.9 million. This surge in inflows was a direct response to both Trump’s victory and the Federal Reserve’s decision to cut the Fed Funds Rate by 25 basis points to 4.75%.
Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, highlighted the significant impact of the inflows, stating, “Bitcoin ETFs took in a record-smashing $1.4b yesterday (the Trump effect)… All told they feasted on about 18k btc in one day (vs 450 mined) and are now 93% of the way to passing Satoshi’s 1.1mil btc.”
While the Fed’s rate decisions are important for Bitcoin demand, investors are also closely watching Trump’s crypto policies, which could have a significant impact on the market moving forward.
Stay tuned to Extreme Investor Network for more updates and insights on the latest trends in the Stock Market and crypto world.