Daily spot bitcoin exchange-traded fund flows increased in the week following the U.S. election Nov. 5, according to data provided by Morningstar Direct. In the seven days after the election, flows were $4.4 billion vs. $1.5 billion the previous week.
Spot bitcoin ETFs see strong flows postelection
Following the U.S. Securities and Exchange Commission’s approval of spot bitcoin ETFs in January, assets grew quickly to $57.9 billion in May compared with $27.6 billion at the start of the year. After stagnating for several months, assets accelerated in October and November. They totaled $104.9 billion as of Nov. 21.
Spot bitcoin prices have increased significantly since Election Day to nearly $100,000 compared with about $69,000 on Nov. 5. Prices have more than doubled since the end of 2023 when it was about $42,000.
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