Buoyed by the promise of a crypto-friendly administration, bitcoin investors have been shoveling money into cryptocurrency ETFs.
Since the election, crypto bulls have invested nearly $10 billion in a dozen U.S. crypto funds managed by investment heavyweights like Fidelity and BlackRock, according to Bloomberg. This influx of funds brings the combined assets of these funds to $113 billion.
Experts say enthusiasm around a second Trump term already helped push bitcoin to its first-ever six-figure high last week. Crypto investors’ optimism surged when Trump announced his pick of Paul Atkins, a vocal proponent of digital assets, to replace crypto skeptic Gary Gensler as the head of the Securities and Exchange Commission. Trump also announced on his social network Truth Social that he had appointed Silicon Valley investor David Sacks to be “White House A.I. & Crypto Czar" — another boon for the industry.$BTC 
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