Trump's Crypto Support Draws Nearly $10 Billion In US Bitcoin ETFs

About $10 billion has poured into US spot Bitcoin ETFs since Donald Trump became president-elect a month ago, indicating anticipation that his government would assist the cryptocurrency sector.

Bloomberg reports that a dozen Bitcoin ETFs from major issuers including BlackRock and Fidelity Investments have received $9.9 billion in net inflows since November 5, increasing their total assets to $113 billion.

Trump Appointments Signal Crypto Regulation Progression
Recent Trump appointments, such as a digital asset advocate to head the SEC and a White House czar for AI and crypto, signal a trend toward more sympathetic regulation.

Trump has endorsed a national Bitcoin reserve, which is getting bipartisan backing in Congress, led by pro-crypto Senator Cynthia Lummis.

Bitcoin crossed $100,000 for the first time on December 5, trading at $96,898 on Monday. The cryptocurrency's six-week gain run is the longest since the 2021 market craze, but experts worry about instability.

A sustained push over $100,000 would likely need additional favorable triggers, according to FalconX head of research David Lawant. BTC has struggled to reclaim this level despite consolidating following the increase over the prior four days.

Bloomberg also reports that corporations that have implemented MicroStrategy's convertible bond approach to buy Bitcoin have rebounded due to the strong sentiment around cryptocurrencies.

Only MicroStrategy sold $6.2 billion in convertibles this year and plans to raise $21 billion in fixed-income offerings. Others, including MARA Holdings and Core Scientific, have raised large cash for Bitcoin purchases.

MSTR has climbed 73% since Donald Trump's win, while MARA, Riot Platforms, and Core Scientific have risen 63%, 33%, and 30%.

Bitcoin's approximately 40% rise over the same time matches this pattern. Bitcoin's rise to about $2 trillion has boosted MicroStrategy's assets to almost $41 billion.

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