The day after the announcement of Donald Trump's victory in the US presidential elections, spot Bitcoin ETFs posted a record net inflow since their launch in January, a result notably driven by BlackRock's iShares Bitcoin Trust (IBIT).
Spot Bitcoin ETFs set new record for net inflow volume
With a daily net inflow of 1.38 billion dollarsspot Bitcoin (BTC) ETFs recorded a record for net incoming flows this Thursday, surpassing the previous record of just over a billion dollars set in March 2024.
Thanks to this result, spot Bitcoin ETFs officially exceed $25 billion in net inflows just 10 months after their approval by the Securities and Exchange Commission in the United States.
💲 How to buy Bitcoin (BTC) easily in 2024?
At the origin of these very good figures, BlackRock's iShares Bitcoin Trust (IBIT) which recorded net inflows of $1.1 billion alone. A record. This performance comes just 8 days after recording over $642 million in inbound volumeswhich was already a record.
Also note that none of the 12 spot Bitcoin ETFs available in the United States did not show any net outflows this November 7. This statistic contrasts with the results from November 4 where spot Bitcoin ETFs recorded net outbound volumes of $541 millionor $22 million less than the May 1, 2024 record.
These results can be explained by the desire of many investors to remain cautious before knowing the outcome of the elections in the United Statesand thus better anticipate the evolution of the economy in the years to come.
Indeed, many analysts predicted a fall in the price of Bitcoin in the event that Kamala Harris were to win the election. Conversely, the trend was rather towards an increase in the price of BTC in the event of Donald Trump's victory.
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Donald Trump's victory reinforces the enthusiasm around spot Bitcoin ETFs
This Wednesday, the whole world learned Donald Trump's victory over Kamala Harris in the American presidential elections. As mentioned, the cryptocurrency market reacted favorably to this announcementBitcoin notably having reached its ATH on this occasion.
Undeniably, Donald Trump's upcoming inauguration as the 47th President of the United States reassured investors in their interest in betting their money on cryptocurrencies, and more particularly on Bitcoin.
👉 Also read – Donald Trump’s victory: What can we expect for the crypto ecosystem?
For Caroline Bowler, the managing director of BTC Markets Pty, there now exists “ a significant risk of a feedback loop, where increased ETF flows push the price of Bitcoin higher, attracting more capital “.
Also, analysts affirm that the positive evolution of the price of Bitcoin will depend on Donald Trump's ability to keep his campaign promises. Among them, the creation of a strategic reserve of Bitcoins or the dismissal of Gary Gensler as president of the SEC.
👔 Today, Donald Trump is elected 47th President of the United States
🤔 What are the new head of state's promises regarding cryptocurrencies? 🧵👇 pic.twitter.com/pKSwvI2tHj
— Cryptoast (@CryptoastMedia) November 6, 2024
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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