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Bitcoin ETFs See Record $1.3B Inflows on Trump Win, Fed Rate Cuts
BlackRock’s IBIT accounted for most of the inflows at $1.1 billion, with zero net outflows from any product.
- Bitcoin ETFs saw a record-breaking $1.38 billion in net inflows post-Trump's election win.
- Ethereum ETFs recorded $78 million in inflows, buoyed by optimism in DeFi after Trump's victory.
Bitcoin (BTC) exchange-traded funds (ETFs) listed in the U.S. logged a record $1.38 billion in net inflows on Thursday, a day after Republican Donald Trump won the U.S. presidency.
BlackRock’s IBIT took on over $1.1 billion in net inflows, the most among all products, and its highest-ever since going live in January. Cumulative net inflows across all products crossed $25 billion for the first time. None of the twelve ETFs showed any net outflows.
STORY CONTINUES BELOW
Ether (ETH) ETFs logged $78 million in net inflows on renewed bullishness for the decentralized finance (DeFi) space following Trump’s victory. ETH rose more than 10% on Thursday as expectations of pro-crypto policies and deregulation in a Trump regime boosted investor confidence in the asset.
BTC trades above $76,000 in Asian morning hours Friday, up nearly 10% over the past week. In line with analyst expectations, the Federal Reserve cut rates by 25 basis points on Thursday in a move that typically supports risk assets like bitcoin by increasing liquidity and weakening the dollar.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
