According to data from Farside Investors, bitcoin ETFs recorded a record of net inflows on November 7, when the Republican won.
The market of cryptocurrencies It is completely revolutionized after Donald Trump’s electoral victory in the United States. The victory of the Republican Party, interpreted as very positive for digital assets, fueled a rally in the market that led Bitcoin (BTC) to achieve successive all-time highs. This circumstance was also reflected in the BTC Spot Funds.
According to data from Farside Investors, bitcoin ETFs registered a record of net inflows on November 7, raising around US$1.38 billion. To find the previous record, we must go back to March 12, in the midst of bitcoin’s rise towards the first historical highs set in 2024 after the approval of these investment products, the day on which it registered net inflows of US$1,045 million.
Another interesting fact is that none of the eleven large BTC spot ETFs recorded net outflows during last Thursday. On March 11, both Invesco’s BTCO and Grayscale’s GBTC recorded net outflows that amounted to $19.7 million and $79 million, respectively.
Likewise, it was BlackRock’s IBIT, which concentrated a good part of the capital inflows in the space, with US$1,119.9 million of net positive flows registered on the day. It was the largest data in the history of this fund.
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What happened to Ethereum ETFs
At the same time, the Ethereum (ETH) ETFs recorded net inflows of $78 million due to renewed optimism for decentralized finance (DeFi) following Trump’s victory. Additionally, the price of ETH rose more than 10% on Thursday as expectations for pro-cryptocurrency policies rose. It should be remembered that Trump has supported the DeFi World Liberty Financial project and has made numerous promises to the cryptoasset sector in recent months.
This rebound also coincided with a drop in interest rates by the Federal Reserve (Fed), which has also ruled out that Trump’s victory will influence its short-term plans, so the market continues to discount a new cut in the December conclave. Official rate cuts have traditionally been bullish for crypto assets, as dollar devaluation drives growth in riskier sectors.
Source: Ambito
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