Market Reacts To Trump’s Crypto Support: Almost $10 Billion Invested In US Bitcoin ETFs
Since Donald Trump's election, approximately $10 billion has entered US spot Bitcoin ETFs, reflecting optimism for pro-crypto policies. Major funds from BlackRock and Fidelity have seen nearly $9.9 billion in net inflows, totaling around $113 billion in assets. Trump's appointments suggest a regulatory shift favoring cryptocurrencies, including a digital asset advocate leading the SEC and a White House czar for crypto. Trump supports a national Bitcoin reserve, gaining bipartisan congressional backing. Bitcoin surpassed $100,000 on December 5, with a six-week winning streak, though analysts warn of volatility. Companies like MicroStrategy have benefited, with its stock rising 73% since the election, while others like MARA and Core Scientific also saw significant gains. MicroStrategy plans to raise $21 billion through convertible bonds, capitalizing on favorable market conditions. The high demand for convertible deals indicates competitive pressure among major players in the crypto market.
