According to ChainCatcher news and Bloomberg, Aya Kantorovich, co-founder of the institutional crypto platform August, said that many people 'are basing their expectations on a more favorable U.S. government (crypto regulatory environment).' She added that this optimism is reflected in the demand for exchange-traded funds investing in digital assets.
As of last Sunday, Bitcoin has consolidated a seven-week winning streak, the longest since 2021. However, the recent momentum has slowed, which may indicate that a 'pullback may be imminent,' wrote IG Australia Pty market analyst Tony Sycamore in a report.
Since Trump won the presidential election on November 5, direct investments in Bitcoin from U.S. ETFs have attracted $12.2 billion in net inflows. During the same period, similar products for Ethereum saw net inflows of $2.8 billion.
