The Trump win propelled crypto world in wonderful ways
BlackRock’s IBIT experienced a landmark influx of $1. 12 billion on November. 7, exceeding prior cumulative sums for all spot bitcoin exchange-traded funds. This substantial capital transfer represents the biggest one-day influx in the record of spot bitcoin exchange-traded funds. Other prominent asset managers also indicated significant inflows.
Fidelity’s FBTC garnered $190. 9 million, whereas Bitwise’s BITB rose by $13. 4 million. ark’s arkb rose by $17. 6 million on the identical date, as documented on November. 7. The collective influx reached $1. 37 billion, representing the top-performing day in the history of spot Bitcoin ETFs since their introduction in January.
These inputs align with Bitcoin surpassing the highest price multiple times, reaching a peak of $76,900. This shattered previous records on two occasions following the US presidential election in November. 5. The uptick in bitcoin’s value and ETF influx indicates a rise in institutional attention post the election outcome. The ETF’s record-breaking inflow exceeded the total combined amount from previous comparable funds, indicating a potential change in institutional investment tactics post Trump’s victory.