US Bitcoin ETFs Set for Record Monthly Inflows Amid Trump Optimism

A group of a dozen US Bitcoin exchange-traded funds are on the verge of a record monthly net inflow, helped by the digital asset’s historic surge to $100,000 amid President-elect Donald Trump’s embrace of the cryptocurrency. ETFs from issuers including BlackRock Inc. and Fidelity Investments attracted $6.2 billion in November. The previous peak of $6 billion was reached in February amid investor euphoria over product launches earlier in the year. Trump also backed the creation of a strategic reserve of the native cryptocurrency in the US. Trump is expected to appoint a digital asset advocate to head the agency, potentially paving the way for ETFs for other tokens. Trump himself was previously an industry skeptic, but changed his stance as the sector poured in huge sums to advance its interests during the election campaign.