Bitcoin exchange-traded funds (ETFs) in the United States are poised to close November with record-breaking inflows, fueled by renewed optimism around Bitcoin’s surge toward $100,000 and President-elect Donald Trump’s supportive stance on cryptocurrency.
A group of 12 US Bitcoin ETFs, including those from financial giants BlackRock Inc. and Fidelity Investments, has already attracted $6.2 billion in November. This inflow surpasses the previous record of $6 billion, set in February when the market was abuzz with excitement following the launch of these products earlier in the year.
The surge comes as Bitcoin continues its remarkable rally, nearly reaching the $100,000 milestone last week. The digital asset’s momentum has been fueled by Trump’s pledge to reverse restrictive crypto policies and appoint pro-crypto regulators in his administration.
President-elect Trump has shifted from being a skeptic to a vocal supporter of digital assets. His crypto-friendly promises include:
- Scrapping the Biden administration’s crackdowns on the crypto industry.
- Appointing regulators who are supportive of digital innovation.
- Proposing a US strategic reserve of Bitcoin to solidify its role in the financial system.
This pro-crypto stance is expected to create a favorable environment for institutional investments in digital assets. According to Josh Gilbert, a market analyst at eToro, “ETFs are set to attract more inflows under a Trump administration, as businesses and retirement funds find it easier to integrate crypto into their portfolios.”
Bitcoin’s price rally has been remarkable, with the cryptocurrency currently trading at around $96,400. While smaller coins like Cardano and Solana remain in tight trading ranges, Bitcoin has emerged as the year’s top-performing asset, outpacing global stocks and gold.
The Securities and Exchange Commission (SEC) initially resisted Bitcoin ETFs but, following a court decision in 2023, allowed the launch of US spot-Bitcoin ETFs earlier this year. These ETFs have since gained traction among investors seeking exposure to the top cryptocurrency.
Outgoing SEC Chair Gary Gensler, known for his critical stance on the crypto industry, will soon be replaced. Trump is expected to nominate a pro-crypto regulator, which could open the door to ETFs for other digital assets like Solana and Cardano.
With Bitcoin more than doubling in value this year and institutional interest surging, the inflows into Bitcoin ETFs highlight the growing mainstream acceptance of digital assets. Trump’s supportive policies may further fuel this trend, encouraging greater participation from traditional financial institutions and retirement funds.
As the crypto market evolves, these record-setting inflows reflect not only Bitcoin’s dominance but also its increasing role as a key asset in modern investment portfolios.
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