The political changes in the US are a fact as Donald Trump officially took office on Monday, becoming the country’s 47th president.
Following the uncertainty ahead of his inauguration, US investors have become bullish once again toward the two largest cryptocurrencies, with substantial inflows toward the ETFs tracking both.
BTC ETFs on a Roll
The spot Bitcoin ETFs had a painful three-day period in the middle of the month, with $149.4 million leaving the funds on January 10, $284.1 million on January 13, and $209.8 million on January 14. However, that’s when the landscape changed, and investors reversed their strategy.
In the next three business days, the funds attracted $755.1 million, $626.1 million, and $1.072,8 million, respectively, erasing all the previous losses.
This streak continued during the past week, which had only four business days. Monday was Martin Luther King Day as well as Donald Trump’s inauguration. On Tuesday, the first business day after Trump took office, investors poured $802.6 million into the spot Bitcoin ETFs. BlackRock’s IBIT led the pack with $661.9 million.
The net inflows for the next three days were $248.7 million, $188.7 million, and $517.7 million. Overall, the week ended with an impressive $1,757.7 million in net inflows. Moreover, this brings the seven-business day streak that started on January 15 to over $4.2 billion.
Despite the $1.7 billion in net inflows over the past week, BTC’s price stands at essentially the same spot as last Sunday at just under $105,000.
What About ETH ETFs?
The Ethereum ETFs also had a rocky mid-month period, but the red streak was broken on January 14 with a minor inflows of $1.2 million. January 16 was an awe-inspiring day, with $166.6 million entering the funds.
The past business week was also in the green overall, as $74.4 million was inserted into the ETH ETFs on Tuesday, $70.7 million on Wednesday, and $9.2 million on Friday. A negligible outflow of $14.9 million on Thursday couldn’t break the weak, which ended with $139.4 million in net inflows.
Although this number is substantially lower than that of the BTC ETFs, ETH’s price has performed a lot better within this timeframe. The second-largest cryptocurrency is up by more than 4% since last Sunday and trades well above $3,300.
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