It’s not just Bitcoin itself that is seeing immense demand and startling price jumps over the past week—the American spot exchange-traded funds (ETFs) likewise saw enormous inflows following Donald Trump’s election win.
Data from CoinShares shows that investors were hungry for crypto products last week—and threw nearly $2 billion at investment funds giving exposure to digital assets.
Most of this money was focused on the Bitcoin ETFs that the Securities and Exchange Commission (SEC) approved in January. The funds—run by asset managers such as Fidelity, BlackRock, and Grayscale—allow investors to buy shares that track the price of the biggest virtual coin and trade on stock exchanges.
“A combination of a supportive macro…
Nov 14 2024
