BlackRock’s iShares Bitcoin Trust, or IBIT, continues to be at the top of the list, with inflows totaling $5.4 billion just in November.
In the United States, investors are allocating a large amount of capital to Bitcoin ETFs.
These funds, which let investors invest in Bitcoin without holding the digital currency ( BTC), have received record net inflows of $6.2 Billion this month. The new record is $6.2 billion, which surpasses the $6 billion inflows in February.
BlackRock iShares Bitcoin Trust is still the market leader, with net flows of 5.4 Billion in November and 31.6 Billion for the year to date.
On November 11, spot Bitcoin ETFs had inflows of over $1.11billion. It was followed by a second surge on November 21, with $1 billion flowing into these funds, based on SoSoValue.
Trump Promises Pro-Crypto Agenda
The recent surge in Bitcoin-related ETF investments is fueled by Bitcoins’ rise towards the $100,000 threshold. Donald Trump’s pro-crypto stance, in part, sparked it.
Bitcoin briefly flirted last week with the $100,000 landmark, propelled Trump’s promise to demolish existing crypto-regulations and foster a better environment for digital currencies.
The incoming president has pledged he will make the United States a global crypto capital and establish a “Strategic Bitcoin Reserve,” a crypto-advisory council that is responsible for designing transparent regulatory guidelines in order to benefit digital asset industries.
Bitcoin’s performance is outperforming traditional assets.
Bitcoin’s rise has slowed this week and is now around $97300. But its performance to date (+151.5%) is stellar. It outperforms other traditional assets, including stocks and gold.
The U.S. Securities and Exchange Commission (SEC) reluctantly approved spot Bitcoin-based ETFs following a ruling by a federal court in January.
With Gary Gensler‘s departure as SEC Chair on Jan 20th, a well-known crypto critic, the path has been opened for a more crypto-friendly successor and possibly new ETFs that will cover other digital tokens.
