Twelve Bitcoin ETFs in the U.S. received $6.2 billion in November, nearing a record monthly entry as Bitcoin continues to hover around $100,000
Find Bitcoin exchange-traded funds are on track to have their best month yet, with $6.2 billion coming into them so far in November. This is thanks to Bitcoin’s rise to $100,000 and President-elect Trump’s crypto-friendly policies, according to Bloomberg.
The report expects the money flowing into ETF producers like BlackRock and Fidelity to surpass the previous high of $6 billion set in February. It also says that Bitcoin is getting close to the $100,000 mark.
The money arrived after Trump pledged to modify the stringent regulations on cryptocurrencies under Biden’s administration. He also suggested making changes to the regulations and creating a strategic Bitcoin reserve. Bloomberg talked to analysts who say that these changes, along with Bitcoin’s recent rise, are making investors more confident in crypto ETFs.
People believe that if Trump wins the presidency, it will be simpler for businesses and retirement funds to hold Bitcoin.
“Under a Trump administration, it’s expected to be easier for businesses and retirement funds to include Bitcoin in their portfolios.” Josh Gilbert, market analyst at eToro
Ethereum ETFs have seen more recent investments than Bitcoin.
The U.S. Securities and Exchange Commission approved spot Bitcoin ETFs earlier this year, following a court case in 2023. Gary Gensler, the chair of the SEC and a critic of the crypto business, is stepping down. During his tenure, the SEC approved Ethereum-linked ETFs. But compared to Bitcoin’s sharp rise, the second event had less of an effect on Ethereum’s price.
New data shows that Ethereum-linked ETFs have become more popular. Over the four trading days prior to Thanksgiving, Ethereum-linked ETFs witnessed a higher inflow of funds than Bitcoin ETFs. Even so, Bitcoin ETFs are still the most popular. As of November 27, SoSoValue reported that their total net assets were worth $104.32 billion.
