Following the victory of Donald Trump, the US president-elect who has portrayed himself as a pro-cryptocurrency leader, inflows into US Bitcoin exchange-traded funds (ETFs) have approached $10 billion (approximately 14.3 trillion KRW).
According to Bloomberg on the 9th, $9.9 billion has flowed into Bitcoin direct investment ETFs from 12 fund issuers including BlackRock and Fidelity since the US election day on November 5th. The total assets of these funds currently stand at about $113 billion.
This reflects a revival of cryptocurrency investment sentiment due to Trump's re-election. Last week, Trump nominated Paul Atkins, known as a cryptocurrency supporter, as the next chairman of the US Securities and Exchange Commission (SEC), and David Sacks, former PayPal Chief Operating Officer (COO), as the newly established White House AI and cryptocurrency czar. Trump also expressed support for designating Bitcoin as a strategic reserve asset and purchasing it.
Bitcoin's weekly upward trend has continued for six consecutive weeks, the longest streak since the 2021 cryptocurrency boom. Accordingly, Bitcoin's price surpassed $100,000 for the first time ever on the 5th. However, according to Investing.com, as of 3:30 PM that day, Bitcoin was trading around $99,000 per coin.
David Lorant, head of research at cryptocurrency brokerage FalconX, suggested that Bitcoin may need additional catalysts to move beyond the $100,000 mark.
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