Cryptocurrencies
US Bitcoin ETF Inflows Near $10 Billion Since Trump Election Win
- Expectations that crypto will thrive under Trump spur demand
- Bitcoin has posted its longest weekly winning run since 2021
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Almost $10 billion has poured into US exchange-traded funds investing directly in Bitcoin since Donald Trump became president-elect, in a bet that his embrace of the crypto sector heralds a boom for the market.
The dozen funds from issuers including BlackRock Inc. and Fidelity Investments have attracted about $9.9 billion of net inflows in the period following Election Day on Nov. 5, helping to lift the group’s total assets to approximately $113 billion, according to data compiled by Bloomberg.