
In a significant development for the cryptocurrency market, investment products related to crypto reported record weekly inflows of $3.85 billion last week. Bitcoin alone saw inflows of $2.5 billion, bringing its year-to-date total to $36.5 billion. Since November 5, companies offering Bitcoin exchange-traded funds (ETFs) have attracted nearly $10 billion, contributing to a total sector value of approximately $113 billion. These ETFs have now become the largest holders of Bitcoin, surpassing its creator, Satoshi Nakamoto. The surge in investments is being attributed to the so-called 'Trump Effect,' as investor sentiment has shifted following Donald Trump's election as president. Currently, the assets under management for Bitcoin ETFs exceed $100 billion, with expectations that they may soon surpass gold ETFs, which hold around $125 million in assets.
ETFs holding spot bitcoin are now the crypto's largest holders, with over $100 b. in assets under management (AUM). There's a good chance spot bitcoin ETFs will surpass gold ETFs, which have roughly $125 m. in AUM. https://t.co/XabX1LBhz6 $GLD $IBIT $GBTC $FBTC
ETFs holding bitcoin are now the crypto's largest holders. #bitcoin https://t.co/PsS0zgf8Yz
"Almost $10 billion has poured into US exchange-traded funds investing directly in Bitcoin since Donald Trump became president-elect." @sidcoins https://t.co/XtM50ZNKsw