Donald Trump is this inaugurated and with that the United States has their very first pro-Crypto president ever. The Bitcoin (BTC) course is surprisingly not much this week, but his American stock market funds can indeed speak of a successful week. The funds have collected more than $ 1.7 billion in just four days.
BlackRock in the lead
Trump officially started his second term as president this week. Although in the first instance he mainly left disappointment with crypto investors, he has since proven that act wants to add to his word and help the industry.
On Monday, Trump took his oath, but that day the stock exchanges in the country were closed because of Martin Luther King Jr. Day. But on Tuesday, Trump’s new term was kicked off with $ 802.6 million in incoming, according to data from Farside Investors.
On Wednesday and Thursday, the incoming were a lot lower – $ 248.7 million and $ 188.7 million respectively – but the week was closed very strongly yesterday with $ 517.7 million in new capital.
This brings a total net inflow of $ 1.75 billion. It is slightly less than the nearly $ 2 billion of last week, but the funds of course had a day less this week to gather it together.
It is no longer a surprise, but BlackRock has brought in the most money with his Bitcoin ETF last week. The IBIT fund grew by more than $ 1.3 billion, while the other funds did not get further than $ 200 million.
Since the launch last January, BlackRock has seen almost $ 40 billion in capital flow in. These are unprecedented figures that have never occurred on the ETF market before.
Fierce week before BTC course
Although the Bitcoin price is currently at almost the same level as Monday, it has been a very volatile week.
On Monday, Bitcoin rose to a new all-time high of almost $ 110,000 awaiting Trump’s inauguration. That same day the race also collapsed to $ 100,000 when Trump had nothing to say about crypto in his first speech. In the day after, the race has tested the resistance level of $ 106,000 – $ 108,000 several times, but each time without success.
At the time of writing, the world’s largest crypto coin is worth just over $ 104,000.
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Source: https://newsbit.nl/bitcoin-etfs-eindigen-historische-week-met-ruim-17-miljard-instroom/
