Recently in the USA spot Bitcoin 
$68,156 ETF There is a significant increase in inflows and this increase is not expected to stop anytime soon. In particular, BlackRock’s iShares BTC ETF (IBIT) has passed a major milestone with inflows exceeding $23 billion since its launch.
The Rise of BlackRock’s Bitcoin ETF
Spotlight in the USA last week Bitcoin There was more than $2 billion inflow into its ETFs. This reveals that institutional demand for the largest cryptocurrency is quite high. Total inflows on Monday reached $294 million, especially BlackRock‘s ETF IBIT attracted attention. A day later, another $329 million entered IBIT. Meanwhile, other ETFs experienced either zero inflows or outflows.
Bloomberg ETF strategist Eric Balchunas“IBIT had its best week with a new cash inflow of $1.1 billion,” he evaluated.
Although ETF Even though the inflows were strong, a major increase in the price of Bitcoin was not observed. The price is having trouble clearing the $69,000 resistance. At the time of writing the news, the biggest cryptocurrency It is traded at 67 thousand 728 dollars, with a decrease of 2.29 percent. Daily transaction volume increased by 60 percent, reaching 37 billion dollars.
“ETF inflows may have a limited impact for a few more days,” Bitfinex analysts added.
Does Trump’s Election Affect the Probabilities?
US Presidential candidate Donald TrumpIt is thought that ETF inflows may have accelerated as the possibility of ‘s election victory increased. According to Polymarket data, Trump’s chance of winning against Kamala Harris has increased to 63.5 percent. Bitget Research Chief Analyst Ryan Lee“Trump’s increasing probability of winning the election and the technical recovery in Bitcoin are important factors,” he stated.
US Securities and Exchange CommissionWith the SEC approving spot Bitcoin ETF options, more investors are expected to provide liquidity to these ETFs. QCP Capital, on the other hand, is of the opinion that this development will provide the necessary liquidity for ETFs to attract sustainable inflows.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
