According to Farside, concluding the business day on Thursday, spot Bitcoin exchange-traded funds (ETF) actively trading in the United States saw their best business day since approval in January with a record-breaking $1.373 billion inflow.
The new record was created a day after Republican Donald Trump won the U.S. presidential election against his competitor, Vice President Kamala Harris.
$1.1 Billion Goes to IBIT
After rounding up its worst business day with $69.1 million outflows the day before, investors made Thursday a bullish, historic day for BlackRock’s Bitcoin ETF, IBIT. It recorded its best inflow day since approval, taking in $1.119 billion.
Notably, IBIT dominated over 85% of the flow, as about four U.S.-approved ETFs didn’t record any market movement, and none of the others with inflows took in up to $200 million.
Fidelity’s FBTC seconded the flow with a $190.9 million intake, covering 13.8% of the historic business day. However, FBTC was at the top of the table a day earlier with the most inflows.
Collectively, five ETFs, including Bitwise’s BITB, Grayscale’s GBTC and BTC, Arl 21shares ARKB, and VanEck’s HODL, recorded a $63 million inflow.
Rounding up on Thursday, U.S. spot Bitcoin ETFs have reached an all-time net inflow of $25.564 billion.
BTC Eyes $77,000
Amidst the optimism surrounding the U.S. presidential election season, the world’s largest cryptocurrency, bitcoin, has been on the green side, hitting new all-time highs as investors purchase more of the apex coin.
While the election was ongoing, the leading crypto surged past its March previous peak of $73,700 to reach $75k. After officials announced that Trump had won the election, it soared to $76k.
A day later, investors ventured more into BTC, pushing it to a new high of $76,850. Notably, The leading crypto has reached new all-time highs within the past three days. Other cryptocurrencies have joined the flow as the entire crypto market capitalization has soared to $2.5 trillion, keeping the market on the high side.
With Trump reelected as U.S. president, the odds of bitcoin reaching new highs have risen. He has shown support for crypto technology and promised to take measures to boost its adoption in America after his inauguration.
