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In just over a year since their launch, US-based spot Bitcoin 
$104,592 ETFs have attracted a staggering cumulative investment of $39.94 billion. Weekly data reveals that the total net asset value of these funds has exceeded $123.1 billion, setting a new record. Particularly, BlackRock’s iShares Bitcoin Trust has maintained the lead with a weekly inflow of $1.32 billion, showcasing its dominance in the market. Market experts highlight that Bitcoin’s (BTC) stability above $100,000 and political developments are the primary drivers of this surge.
Why Are Bitcoin ETFs So Appealing?
In the past seven trading days, the ETFs have seen a total inflow of $1.76 billion, rekindling investors’ confidence in the cryptocurrency market. Following BlackRock, Fidelity’s ETF FBTC attracted $202.2 million, while Ark and 21Shares’ ETF ARKB garnered $172.6 million in investments.
Experts attribute the increase in inflows to Bitcoin’s expanding role in the global economy. Furthermore, the positive statements from President Donald Trump regarding cryptocurrencies and Elon Musk’s plans to integrate blockchain technology into the public sector also support the market dynamics.
How Political and Technological Developments Impact the Market
Since Trump’s inauguration, there has been a noticeable increase in optimism in the cryptocurrency market. Trump’s supportive remarks on blockchain technology and Musk’s goal to reduce costs at the state level have encouraged investors.
Moreover, the number of days Bitcoin has spent above $100,000 has reached an all-time high. Analysts predict that this trend will continue in the coming months, allowing ETFs to reach new groups of investors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
