Bitcoin and Ethereum ETFs See Surge in Inflows Due to Pro-Crypto Policies
Hey there! Exciting news in the world of cryptocurrencies—Bitcoin and Ethereum ETFs are seeing record inflows following Donald Trump’s election as U.S. President. With his pro-crypto policies in the spotlight, investors are flocking to these digital assets like never before.
In November alone, Bitcoin ETFs raked in a whopping $6.5 billion, while Ethereum ETFs weren’t far behind with $1.1 billion in net inflows. Ethereum, the second-largest cryptocurrency after Bitcoin, even set a new record for single-day subscriptions during this time.
The surge in interest is a clear sign of growing speculation around cryptocurrencies post-election. Just on November 29th, nine Ethereum ETFs received a total of $333 million in inflows, led by heavy hitters like BlackRock’s iShares Ethereum Trust and Fidelity’s Ethereum Fund.
Bitcoin was trading at an impressive $97,511, edging closer to the $100,000 mark, although it faced some resistance from profit-taking. Meanwhile, Ethereum was also on the rise, trading at around $3,750.
But that’s not all—Ripple (XRP), the fourth-largest cryptocurrency, saw a significant price increase as investors hope for a more relaxed stance from the SEC under Trump’s administration. In fact, there’s buzz about investment firms looking into launching Ripple ETFs soon.
With Trump’s administration promising a more crypto-friendly regulatory environment, it’s a stark contrast to Biden’s approach. Since Trump’s election, the total market capitalization of the crypto market has shot up by roughly $1.2 trillion.
Exciting times ahead for the world of cryptocurrencies—keep an eye on these digital assets as they continue to gain momentum in the market!
