U.S. ETF Inflows Hit $4.7B Over 6 Days as Bitcoin Becomes 7th-Largest Asset in the World
Bitcoin (BTC) has become the seventh-largest asset globally, surpassing Saudi Aramco, with a market dominance of 61.38% and a price exceeding $93,000. The pro-crypto stance of U.S. President-elect Donald Trump and Republican control of the House are expected to positively influence cryptocurrency regulation and prices. Bitcoin ETFs have experienced significant inflows, totaling $4.7 billion in six days, with $510.1 million on a single day, bringing the total since January to $28.2 billion. Analysts indicate that ETF demand is driving Bitcoin's price surge, absorbing sales from Long-Term Holders. BlackRock's iShare Bitcoin Trust (IBIT) reached a trading volume of $5 billion, marking a record high. Ethereum's ether (ETH) also saw increased interest, with $146.9 million in inflows on November 14, totaling $241.7 million in net inflows.
