Record Day for Bitcoin Spot ETFs: $1.36 Billion Inflows

Image source: CoinMarketCap

According to CoinMarketCap, Bitcoin reached a new All-Time High of $76,943 on November 7th, just hours after the confirmation of the presidential victory. This 12% rally from Election Day to the peak highlights the market's optimism.

Bitcoin Spot ETFs, launched earlier this year, have consistently attracted substantial investments. November 7 marked the highest single-day inflow of $1.36 billion, surpassing the previous record of $1.045 billion set on March 12.

This influx represents a 2.5% increase in the ETFs’ AUM and accounts for 4% of their total cumulative net inflows to date.

Image source: Farside Investors

The election of a new administration is seen as a positive shift for the blockchain ecosystem, with a favorable majority in both the House and Senate, according to Stand With Crypto

Trump’s involvement in NFT and cryptocurrency projects makes him the leading supporter of the blockchain ecosystem at the helm of the United States.

His goal is to position the country as a global leader in the blockchain industry, which has so far been held back by repeated attacks from regulatory authorities, notably the Securities and Exchange Commission under the controversial leadership of Gary Gensler.