Crypto ETPs see $2.2B in inflows amid Trump inauguration euphoria
The euphoria around the inauguration of US President-elect Donald Trump drove the massive $2.2 billion in inflows to crypto ETPs last week.
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The euphoria around the inauguration of US President-elect Donald Trump drove the massive $2.2 billion in inflows to crypto ETPs last week.
The post-US election honeymoon is likely over as macroeconomic data is once again a key driver of crypto ETPs, CoinShares’ James Butterfill said.
The Bitcoin Act’s passage could eventually send BTC’s price past $1 million per coin, industry executives say.
Many executives and analysts predicted the success of US spot Bitcoin ETFs in 2024, but the funds surpassed expectations.
US spot Bitcoin ETFs have contributed to 100% of the record-breaking $44.2 billion crypto ETF inflows in 2024, according to CoinShares.
Despite price corrections, digital assets funds closed the week with positive net flows totaling $308 million.
Crypto ETPs recorded $20.3 billion of inflows during the past 10 weeks, accounting for 45% of all inflows in 2024.
Bitcoin has been increasingly recognized as not only a store of value but also as a means to generate yields, CoinShares’ analyst Satish Patel said.
The crypto market smashed a set of new records last week, with Bitcoin surging past $100,000 for the first time and Ether revisiting $4,000.
The latest inflows mark four weeks of consecutive buying in cryptocurrency products, totaling more than $5.7 billion, or 19% of all such inflows YTD.
