Bitcoin Spot ETFs Hit $622M Inflows Following Trump Victory
Following Donald Trump‘s election victory, Bitcoin spot ETFs recorded $622 million in inflows on Nov. 6 amid expectations for a more crypto-friendly environment under the new administration.
What Happened: The Fidelity ETF (CBOE: FBTC) led with $309 million, while Bitcoin spot ETFs overall recorded a daily turnover of $6.07 billion—the highest since March, according to data from SoSo Value.
BlackRock‘s ETF (NASDAQ:IBIT) contributed significantly, reaching a record turnover of $4.14 billion, a record high.
These inflows come on the heels of Bitcoin’s new all-time high of $76,243 late on Nov. 6, though it has since retraced to $74,900 as of Thursday morning, still trading up by about 1.2%, according to CoinGecko data.
Meanwhile, Ether (CRYPTO: ETH) is also showing gains, trading at $2,810 on Thursday morning in Europe—an increase of over 7%. However, it remains 42.2% below its all-time …
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