eToro market analyst Josh Gilbert stated that under the Trump administration, businesses and retirement funds find it easier to hold assets like Bitcoin, and therefore we will continue to see capital inflow into ETFs.

This month, spot Bitcoin ETFs issued by firms like BlackRock and Fidelity Investments have attracted $6.2 billion in funds so far in November, compared to a previous peak of $6 billion reached in February when investors were excited about these products launched at the beginning of the year.