Wall Street traders invested heavily in ETFs against the backdrop of Trump's victory in the US election, driving up stocks and Bitcoin, according to Bloomberg. Industrial ETFs attracted about $2 billion in October, the best monthly inflow since March 2021.
Despite some outflows this month, traders holding these ETFs are taking profits. Trump’s victory is seen as positive for the cryptocurrency asset class, further boosting market sentiment.
Financial ETFs saw light inflows in October and had net outflows last month. However, broad bets on the largest U.S. stocks following Trump’s victory are paying off, with investors piling into funds such as the SPDR S&P 500 ETF Trust.
