Crypto exchange-traded funds (ETFs) have been on the green in the days before and after Donald Trump’s inauguration as the U.S. president. On Tuesday, they recorded an inflow of $877 million. While the surge in Bitcoin ETF inflows reached an estimated $802.6 million post-inauguration, Ethereum ETFs also experienced a notable $74.4 million inflow.
Additionally, Farside data indicates a remarkable increase in investment within the week following the inauguration. While precise figures vary depending on the data source and methodology employed, a significant volume of new capital entered the market. One analysis points to a 475% increase in inflows into spot Bitcoin ETFs, with over $1.8 billion entering these funds compared to the preceding week’s $312.8 million.
Reports indicate that the total assets under management (AUM) for Bitcoin and Ethereum ETFs reached an all-time high of $171 billion following this period of substantial inflow.
Trump Drives Crypto ETF Investment
Following his inauguration, the acting President made announcements and declarations to favor the U.S. crypto community, thus building investor confidence in the market. David Bailey, CEO of Bitcoin Magazine, revealed in a post on X that executive orders on cryptocurrency are included among the first 200 orders issued by the Trump administration. While the specifics of these orders remain undisclosed, the announcement has significantly impacted market sentiment.
Bailey’s assertion suggests a departure from the more stringent regulatory approach adopted by the previous administration. And with the appointment of a new crypto-friendly SEC, the new administration intends to foster a more favorable regulatory environment for blockchain technology and cryptocurrencies.
Furthermore, pro-crypto advisors in the Trump administration, including prominent figures like Marc Andreessen and David Sacks, solidify this expectation. These advisors actively advocate for policies supporting blockchain development and addressing crucial issues like the ongoing problem of “de-banking” crypto businesses.
Ross Ulbricht Granted Exec Pardon
President Donald Trump announced on Truth Social a full and unconditional pardon to Ross William Ulbricht, a convicted individual serving two life sentences plus 40 years.
Trump’s statement framed the pardon as an honor to Ulbricht’s mother and the Libertarian movement and characterized those involved in the conviction as “lunatics” who weaponized the government against him.
Notably, the Ulbricht case, involving charges related to the Silk Road online marketplace, has been controversial. While the prosecution highlighted the significant scale of illegal activities facilitated by the platform, critics have pointed to concerns regarding sentencing disparities, potentially excessive punishment, and the perceived unfairness of the judicial process.
