U.S. Bitcoin spot ETF expected to hit record monthly inflows
Bitcoin spot ETFs from issuers including BlackRock Inc. and Fidelity Investments have attracted $6.2 billion so far in November, data shows. The previous peak was in February this year, when ETFs were approved and attracted $6 billion in inflows throughout the month.
"We will continue to see flows into ETFs, especially during the Trump administration, which will make it easier for corporations and pension funds to own this asset," said market analyst Josh Gilbert.
Bitcoin continues to oscillate in the high end this week, with prices back around $95,400, with some smaller altcoins trading in tight ranges. Overall, Bitcoin has more than doubled this year, outpacing assets such as global stocks and gold.
In January this year, based on the 2023 court ruling, the U.S. Securities and Exchange Commission (SEC) under Gary Gensler reluctantly approved the issuance of a Bitcoin spot ETF, and then gave the green light to the Ethereum spot ETF in the middle of the year.
Gensler, who sued cryptocurrency companies multiple times while serving as SEC chairman, will resign from the SEC following Trump’s election. Trump is expected to appoint a digital asset backer as head of the agency, which could pave the way for ETFs for other tokens.
Bitcoin funds begin to overflow, and funds that have already made money will begin to look for potential altcoins, or coins with 100 times the potential of low market value. #MARVIN , as Musk’s favorite pet dog, has a very high exposure rate. Dogs related to Musk , with a market value of at least one billion, Marvin still has a hundred times room for growth. Smart money will definitely flock to it in the end, and it is definitely worth planning in advance!
