As an experienced crypto investor with a keen eye for market trends and a knack for reading between the lines, I must admit that the recent surge in Bitcoin and U.S. spot Bitcoin ETF investments has me intrigued. The consistent inflows of over $2 billion into these ETFs and the record-breaking trading volumes are hard to ignore.
On December 4th, U.S. Bitcoin exchange-traded funds experienced their fifth consecutive day of investments inflow, as Bitcoin soared beyond $100,000 to a record peak. This surge was fueled by optimism about a positive regulatory environment under President-elect Donald Trump.
Based on information from SoSoValue, U.S. Bitcoin Spot Exchange-Traded Funds (ETFs) saw their fifth consecutive day of investment inflows on Wednesday. Over this period, the total net inflows have surpassed $2 billion. On that particular day, a combined amount of $556.82 million was invested into 12 different Bitcoin Spot ETFs.
On December 4th, BlackRock’s IBIT ETF led the pack with a massive inflow of $571.71 million, making it the top choice for four days straight.
In second place was the Grayscale Bitcoin Mini Trust with approximately $55.71 million, followed by Fidelity’s FBTC with around $17.27 million, and Bitwise’s BITB ETF that attracted around $6.44 million in investment funds.
On the contrary, while many other markets were showing a bullish trend, Grayscale’s GBTC ETF stood out as an exception on that particular day, with $94.31 million in withdrawals. Since its inception, this fund has seen a total of $20.64 billion in net withdrawals.
On December 4th, there was a substantial increase in ETF trading activity, as the daily trading volume soared to an impressive $4.71 billion – a notable jump compared to the $2.93 billion traded the day before.
For the very first time, Bitcoin, the globally recognized digital currency, surpassed the symbolic $100,000 barrier, hitting a record high of $103,679 on December 5th. This surge was fueled by endorsements for the cryptocurrency sector coming from President-elect Trump.
At press time, Bitcoin (BTC) was trading at $103,192 per coin, up 7% on the day.
After Donald Trump’s win on November 5th, the value of Bitcoin increased by around 45%. This surge was fueled by an influx of investment as people poured money into U.S.-based Bitcoin exchange-traded funds (ETFs).
The report from crypto.news indicates that Trump’s administration is anticipated to promote a welcoming regulatory landscape for cryptocurrencies. On December 4th, Trump nominated Paul Atkins, an advocate for cryptocurrencies, as the potential next head of the U.S. Securities and Exchange Commission.
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2024-12-05 09:50