Spot bitcoin (BTC)-based exchange-traded funds (ETFs) recorded a capital inflow of $978 million on January 6, marking the third-largest positive inflow day in their history.
Among the main beneficiaries are the Fidelity Wise Origin Bitcoin Fund (FBTC), which raised $370 millionand the iShares Bitcoin Trust (IBIT), managed by BlackRock, which totaled 209 million.
Other ETFs also had inflows of money, but to a lesser extent, as is the case of ARK 21Shares Bitcoin ETF (ARKB) which obtained $152 million, followed by Bitwise Bitcoin ETF (BITB) with $71 million, according to data. by SosoValue.
The total cumulative inflow into spot bitcoin ETFs in the US market amounts to 36,964 million dollars.
The increase in capital in spot ETFs directly impacted the price of bitcoin, which exceeded $100,000 per unitas seen in the TradingView chart.
This is due to the operating model of these instruments. Spot ETF management companies must acquire and custody bitcoin to back the issued shares, creating direct demand in the market.
The acquisition process reduces the available supply of bitcoin on the open market, putting upward pressure on its price. This phenomenon has been identified as a key driver behind the digital asset’s recent rise.
Influence of the “Trump effect”
The “Trump effect” is added to the dynamics of the ETF market. Donald Trump’s next inauguration as president of the United States, scheduled for January 20, has generated optimism among investors of bitcoin and other cryptocurrencies.
Trump has promised measures that could benefit the industry, such as the creation of a strategic national reserve of bitcoin and favorable regulations for cryptocurrency mining, as reported by NoticiasVE.
These proposals have been well received by the market, fueling demand for digital assets.
The combination of record flows into spot ETFs and favorable political expectations is driving the bitcoin market to new highs. Future developments will depend on the implementation of the proposed policies and the ability of the ETFs to attract more capital in a changing economic environment.