Expectations for the new US government are influencing the stock markets. Since Donald Trump won the election, millions of dollars have been invested in bitcoin exchange-traded funds (ETFs).
According to Bloomberg data, since Election Day on November 5, a dozen publicly traded bitcoin ETFs, including those from BlackRock, Grayscale and Fidelity, have attracted $9.9 billion.
This influx of money has helped boost the group's total assets to around $113 billion.
The data is consistent with SosoValue's, which shows that the total net assets of these ETFs are $112.74 billion to date, with some $9.927 billion added from November 5 to December 8.
The Bitcoin ETF issued by BlackRock is the largest and absolute leader in this market, accumulating $53.3 billion in BTC and managing 2.66% of the total supply of coins, limited to 21 million, says the same source.
Fidelity follows with a cumulative net holding of $20.42 billion in BTC, equivalent to 1.02% of the total supply.
The massive amount of money invested in Bitcoin ETFs has been one of the catalysts that pushed the price of BTC to $100,000 for the first time in its history, as reported by CriptoNoticias last week.
Anticipation for the Trump administration has had an impact on investment in bitcoin ETFs. During his campaign, Trump promised to make the United States the “world capital of bitcoin and cryptocurrencies.”
The now president-elect pledged to dismantle what he called regulatory persecution by the Joe Biden administration and to promote pro-cryptocurrency legislation in the country. In addition, he announced the launch of a decentralized finance (DeFi) platform called World Liberty Financial together with his children and businessmen, as reported by this media.
This speech has generated enthusiasm among many investors, who see in these promises a more favorable environment for cryptocurrency investment. However, despite the positive market response, part of the cryptocurrency community remains skeptical about Donald Trump's promised policies.
In any case, the massive investment in ETFs over the past month reflects not only confidence in the bitcoin market, but also a bet on the political change that a Trump administration could bring.
