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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.
Updated Nov 8, 2024, 6:16 a.m. Published Nov 8, 2024, 6:16 a.m.
- 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 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.
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Ether 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.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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