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In summary
- Crypto ETFs in the US received almost $2 billion in inflows following Trump’s victory.
- Bitcoin funds hit a record $116 billion in assets under management.
- Investments in Ethereum also increased, with $157 million in global funds.
It’s not just Bitcoin that is seeing immense demand and surprising price jumps in the last week. US exchange-traded funds (ETFs) also saw huge inflows of money after Donald Trump’s election victory.
Data from CoinShares shows that investors were hungry for crypto products last week and poured nearly $2 billion into investment funds that offer exposure to digital assets.
Most of this money was focused on the Bitcoin ETFs that the Securities and Exchange Commission (SEC) approved in January. The funds, managed by asset managers such as Fidelity, BlackRock and Grayscale, allow investors to buy stocks that track the price of the largest virtual currency and are listed on stock exchanges.
“A combination of a favorable macroeconomic environment and seismic changes in the US political system are likely the reason for this very favorable investor sentiment,” quotes a Monday report published by CoinShares, referring to Trump’s victory last week .
He added that across all funds he follows, including those in Europe and Asia, which offer exposure to other major currencies and tokens, total assets under management (AUM) hit a new all-time high of $116 billion.
Investors also wanted to invest in Ethereum, the second-largest Cryptocurrency, the report noted: $157 million was invested in funds from around the world last week, with the new US Ethereum ETFs receiving their largest inflows of funds since they began trading. operate in July.
Bitcoin came close to touching $85,000 per coin on Monday morning, according to data from CoinGecko. The asset has been rising since Trump, a cryptocurrency supporter who has promised to help the Bitcoin and digital asset industries, last week scored a surprise victory in a close race for the White House.
Trump, who served as President from 2017 to 2021 and will be inaugurated on January 20, 2025, was not only the favorite for the cryptocurrency industry but also for Wall Street, with major hedge fund managers betting on his election. before last week’s result.
Edited by Andrew Hayward
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