Spot Bitcoin exchange-traded funds in the United States returned to an inflow streak on Jan. 16 as Bitcoin cemented its position above $100K ahead of President-elect Donald Trump’s inauguration ceremony. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $626.15 million in inflows on Thursday, extending their inflow streak for the second consecutive day, with over $1.3 billion entering the funds during this period. BlackRock’s IBIT attracted the lion’s share of inflows yesterday, drawing in $527.87 million from investors following a day of relatively weak inflows experienced by the fund. The asset manager’s spot Bitcoin ETF currently holds $56.22 billion worth of Bitcoin, representing approximately 2.64% of the asset’s total supply. ARK and 21Shares’ ARKB followed next with an inflow of $155.44 million, while more modest inflows came from VanEck’s HODL, Fidelity’s FBTC, and Bitwise’s BITB funds, which saw $5.68 million, $4.39 million, and $2.74 million enter the funds, respectively. You might also like: Over 50% of Americans sold gold and stocks to buy Bitcoin, survey shows Grayscale’s GBTC was the only Bitcoin ETF to buck the trend, with the fund experiencing an outflow of $69.97 million on the day, partially offsetting the inflows recorded by other funds. The remaining six Bitcoin ETFs saw no movement during the day. The total trading volume for the 12 Bitcoin ETFs was $2.74 billion on Jan. 16 significantly lower than the $3.18 billion recorded the previous trading day. Meanwhile, the inflows were recorded as Bitcoin briefly surged past $102,000, solidifying its position above $100,000 on Jan. 17. This occurred amid a broader market bull run fueled by expectations that, following U.S. President-elect Donald Trump’s inauguration to the Oval Office, the incoming administration would drop non-fraud-related crypto cases and adopt a more favorable regulatory stance toward digital assets. Moreover, the self-proclaimed crypto-friendly President has also announced plans to make cryptocurrencies a national priority and has considered creating a government strategic stockpile of Bitcoin , similar to the U.S.’s existing gold and oil reserves to strengthen the U.S. financial landscape. At press time, Bitcoin ( BTC ) was still up 2%, exchanging hands at $101,408 per coin. Read more: A nation is considering Bitcoin ETFs for foreign reserves, says Bitwise CEO
