On Wednesday, Bitcoin ETFs in the U.S. saw a significant inflow of capital following Donald Trump’s win in the U.S. elections, propelling him to become the 47th president. This election outcome is being viewed as positive for Bitcoin, prompting heavy buying activity across Bitcoin ETFs. Bitcoin itself hit a new all-time high, reaching $67,203 according to CoinMarketCap data.
The combined inflows across the 11 Bitcoin ETFs totaled $621.90 million on Wednesday, with several funds leading the way. Fidelity’s FBTC fund recorded the largest inflow, bringing in $308.77 million. ARK Invest’s ARKB fund followed with $127.00 million, while Bitwise’s BITB and Grayscale’s BTC funds added $100.92 million and $108.81 million, respectively. Grayscale’s GBTC fund saw an additional $30.91 million in inflows, and VanEck’s HODL ETF attracted $17.18 million.
However, not all funds participated in the influx. BlackRock’s IBIT fund has another day of outflows, with $69.11 million leaving the fund. Valkyrie’s BRRR ETF also recorded a minor outflow, shedding $2.58 million.
The remaining funds – Invesco’s BTCO, Franklin & Templeton’s EZBC, and WisdomTree’s BTCW – saw no inflows or outflows for the day.
At the time of writing, Bitcoin was trading at $74,833, according to CoinMarketCap data.