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Spot Bitcoin ETFs in the US Record Significant Inflows Amidst Market Optimism
On January 21, spot Bitcoin exchange-traded funds (ETFs) in the United States saw a notable resurgence in positive inflows, marking the fourth consecutive day of net inflows. This uptrend comes on the heels of President Donald Trump’s inauguration, with Bitcoin holding steady above $105,000.
Net Inflows Reach $802.5 Million
According to recent data, the 12 spot Bitcoin ETFs collectively recorded $802.5 million in net inflows on January 21. This influx extends the previous inflow streak, bringing the total to over $3.2 billion in just four days.
Leading ETFs Drive Inflows
The majority of inflows on January 21 came from BlackRock’s IBIT, which saw an impressive $661.9 million enter the fund, leading the highest inflows for the third consecutive day. Grayscale’s mini Bitcoin Trust followed closely with an inflow of $136.39 million.
Other ETFs contributing to the positive momentum include ARK 21Shares’ ARKB, Fidelity’s FBTC, and Franklin Templeton’s EZBC, with more modest inflows of $8.51 million, $6.97 million, and $6.18 million, respectively.
Outflows and Trading Volume
Not all ETFs shared in the positive trend, as Bitwise’s BITB experienced an outflow of $17.41 million. The remaining Bitcoin ETFs saw no notable flows on the day. The total trading volume for the 12 Bitcoin ETFs reached $5.05 billion on January 21, while the total net inflows into these investment products since launch stood at $38.98 billion.
Market Reaction to Trump’s Inauguration
Despite the significant inflows, they fell short of the previous day’s $1.08 billion. This decline may be attributed to President Trump’s failure to issue an anticipated executive order establishing a Bitcoin national reserve and prioritizing cryptocurrencies as a national agenda.
According to Kadan Stadelmann, CTO of Komodo Platform, Trump’s early days in office may lead to a “sell the news” event, as investors had already priced in anticipated policy changes. However, Stadelmann remains optimistic, noting that Trump’s focus on pressing national challenges has delayed immediate crypto-related actions.
“Overall, the Bitcoin and crypto markets should still expect a more crypto-friendly administration under Trump. We see institutions still expecting crypto liberalization as they continue to buy up Bitcoin ETFs ahead of expected policy changes.”
Current Market Trends
At the time of writing, Bitcoin was trading at $105,708 per coin, up 3.1% despite a slight decline in the previous day’s trading.
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Disclaimer: The information provided is for general knowledge purposes only and should not be considered as investment advice.
