banner

Spot Bitcoin ETFs See $802M Inflows After Trump Inauguration

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. resumed their positive inflow streak on January 21, following President Donald Trump’s inauguration. Bitcoin continues to hold strong above the $105K mark.

Bitcoin ETF Inflows Surge

Data from SoSoValue shows that the 12 spot Bitcoin ETFs recorded a net inflow of $802.5 million on January 21. This extends their four-day inflow streak, with over $3.2 billion entering the funds during this period.

BlackRock Leads Inflows

The majority of inflows came from BlackRock’s IBIT, which attracted $661.9 million, maintaining its lead for the third consecutive day. Grayscale’s mini Bitcoin Trust followed with $136.39 million.

Other ETFs, including ARK 21Shares’ ARKB, Fidelity’s FBTC, and Franklin Templeton’s EZBC, also contributed, adding $8.51 million, $6.97 million, and $6.18 million, respectively.

However, Bitwise’s BITB experienced an outflow of $17.41 million, while the remaining ETFs recorded no significant changes.

Trading Volume and Total Inflows

On January 21, the total trading volume for all 12 Bitcoin ETFs reached $5.05 billion. Since their launch, the total net inflows into these investment products now stand at $38.98 billion.

Inflows Fall Short of Previous Day

Despite the impressive $802.5 million inflow, it fell short of the previous trading day’s $1.08 billion. Analysts attribute this decline to Trump’s failure to issue an expected executive order prioritizing Bitcoin and cryptocurrencies.

Bitcoin’s Current Price

At the time of writing, Bitcoin is trading at $105,708, marking a 3.1% increase.

Conclusion

Spot Bitcoin ETFs have shown strong inflows, with BlackRock leading the way. Despite a slight slowdown in inflows, market experts remain optimistic about future growth driven by policy developments under the new administration.

banner

Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

banner

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content