Victory

Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/donald-trumps-victory-increases-interest-in-bitcoin-etfs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Donald Trump’s Victory Increases Interest in Bitcoin ETFs</a><br></p>
<p style="text-align: justify">Following Donald Trump’s election as the new president of the United States, spot Bitcoin ETFs experienced an intriguing shift in interest. BlackRock’s iShares Bitcoin Trust (IBIT) ETF surpassed $4.1 billion in daily trading volume, drawing attention as it outperformed major stocks such as Visa and Berkshire Hathaway on Wall Street.</p>
<h2 style="text-align: justify" id="blackrock-bitcoin-etf-reaches-high-volume">BlackRock Bitcoin ETF Reaches High Volume</h2>
<p style="text-align: justify">On Wednesday, November 6, the IBIT reached a peak of $4.1 billion in daily trading volume. This volume successfully surpassed the trading volumes of giants like Visa, Berkshire Hathaway, and Netflix on the same day. The BlackRock Bitcoin ETF displayed its second-highest performance since its launch, increasing by 10%.</p>
<p style="text-align: justify">Bloomberg ETF strategist Eric Balchunas noted that this high volume could soon translate into IBIT content. Balchunas stated, “Today, IBIT surpassed the volumes of major stocks like Visa and Netflix, while also rising by 10%. These inflows are expected to return to the fund within a few days.”</p>
<h2 style="text-align: justify" id="fidelity-bitcoin-etf-gains-popularity">Fidelity Bitcoin ETF Gains Popularity</h2>
<p style="text-align: justify">On the same day, the Fidelity Bitcoin ETF (FBTC) became the most preferred ETF with inflows exceeding $300 million. Ark Invest’s ARKB saw inflows of $127 million, while Bitwise’s BITB received $100.9 million. Grayscale’s mini ETF also surpassed $100 million, while BlackRock’s IBIT experienced an outflow of $68 million.</p>
<p style="text-align: justify">With Trump taking office in January 2025, interest in Bitcoin is expected to rise. Following Bitcoin’s new peak, analysts suggest that a different era for Bitcoin may begin under the Trump administration.</p>
<p style="text-align: justify">One analyst remarked, “In about three months, the U.S. government may consider Bitcoin as a strategic reserve asset. Other countries might lead the way in this regard.”</p>
<p style="text-align: justify">Within 20 hours of the U.S. election results, Bitcoin remained above the $75,000 level. Investors speculate that Bitcoin could reach new peaks if the Fed announces a 25-basis-point rate cut during Thursday’s FOMC meeting.</p>
<h2 style="text-align: justify" id="record-day-for-etfs">Record Day for ETFs</h2>
<p style="text-align: justify">A total of nine U.S. Bitcoin ETFs recorded their best performance since January with a daily trading volume exceeding $6 billion. Balchunas emphasized that the trading volumes of most Bitcoin ETFs have doubled their daily averages, indicating a growing interest among investors.</p>
<p style="text-align: justify">This situation highlights the potential of the Bitcoin ETF category. Analysts believe that this volatility could serve as an important indicator for future market trends.</p>
<p>The post <a href="https://en.coin-turk.com/donald-trumps-victory-increases-interest-in-bitcoin-etfs/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Donald Trump’s Victory Increases Interest in Bitcoin ETFs</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Donald Trump’s Victory Increases Interest in Bitcoin ETFs

Table of Contents

COINTURK NEWS

Other articles published on Nov 7, 2024

Crypto Adoption Continues After Trump’s Victory

Uniswap Integrates Venmo & Ethereum Shows Stability While Plus Wallet Lets Users Benefit on Every...

Top 10 Web3 Platforms Shaping Digital Assets Management in 2024

Polkadot vs. Cardano: Which Altcoin Will Lead the Next Bull Run?

New Bitcoin ATH Indicates Room for More Growth, Says CryptoQuant

Best Cryptocurrencies to Invest in Right Now November 6 – THORChain, Conflux, Ethena

Join our free newsletter for daily crypto updates!