Will Donald Trump winning again be bullish for Bitcoin ETF inflows?
The post Will Donald Trump winning again be bullish for Bitcoin ETF inflows? appeared on BitcoinEthereumNews.com.
Bitcoin ETFs saw record inflows amid the broader market’s recovery, signaling investor optimism Political shifts are driving digital asset inflows, with Republicans seen as being pro-crypto Amid a broader market recovery, Bitcoin [BTC] ETFs have been gaining traction lately with significant inflows – A sign of a positive market trend. Bitcoin ETF update According to Farside Investors, Bitcoin ETFs recorded collective inflows of $371 million on 15 October. Leading the pack was BlackRock’s IBIT with $288.8 million, followed by Fidelity’s FBTC at $35 million. Additionally, Ark 21Shares’ ARK ETF reported figures of $14.7 million while finally, Grayscale’s GBTC saw inflows of $13.4 million. While some ETFs saw no inflows, none reported outflows. This can be interpreted as reinforcing the growing interest in Bitcoin-based investment vehicles. In fact, just a day ago, Bitcoin ETFs recorded their highest single-day net inflows since June – A combined value of $555.9 million. Leading this momentum was FBTC which reported $239.3 million inflows – Its largest since 4 June. Additionally, GBTC also saw renewed interest with figures of $37.8 million – Its highest since May and marking its first positive inflows in October. This coincided with Bitcoin trading at $67,823.08 on the charts, following a 3.56% hike in 24 hours and gains of 9.44% over seven days. As expected, this has fueled speculation that the crypto may be gearing up for another all-time high. CoinShares links this to election – But why? Interestingly, CoinShares’ latest report also highlighted a notable uptick in digital asset inflows, totaling $407 million—A shift attributed to growing investor interest tied to a potential Republican win. This recent wave of capital is a sign of heightened interest in crypto, one driven by expectations that a GOP-led administration could bring favorable regulatory shifts to the industry. The report noted, “Digital asset…
Filed under: News - @ October 17, 2024 1:26 am