Bitcoin ETFs raise $10 billion

Following Trump's victory in the U.S. presidential election, U.S. Bitcoin ETFs have raised an impressive $10 billion. BTC funds from BlackRock and other providers continue to perform strongly.

U.S. Bitcoin Spot ETFs continue to gain momentum. In the past trading week alone, according to Farside Investors another $2.7 billion in the eleven BTC index funds. With this performance, the ETFs are on an impressive run of success.

According to Bloomberg Bitcoin ETFs from BlackRock, Fidelity and other providers have attracted nearly $10 billion in capital since Trump's election victory. This accounts for nearly 30 percent of total net inflows during this period.

At the time of writing, Bitcoin's price stands at $97,700, down 0.7 percent from yesterday. Over the past month, however, the Bitcoin exchange rate has risen 27 percent.

The most net inflows over the past week were recorded by the iShares Bitcoin Trust ETF (IBIT) at $2.63 billion. This BlackRock fund currently manages about 520,000 BTC worth about $50.8 billion.

In second place is the Fidelity Wise Origin Bitcoin Trust with a net inflow of $262 million. This Fidelity BTC fund currently manages some 200,000 BTC, worth $19.54 billion.

If this trend continues, the Fidelity Bitcoin ETF could rank second among 11 Bitcoin ETFs by the end of the year. Currently, this position is still held by the Grayscale Bitcoin Trust (GBTC), which lost $303 million last week.

In total, all U.S. Bitcoin ETFs together manage more than 1.1 million BTC, representing 5.55 percent of the total circulating amount of BTC. BlackRock continues to expand its market share and now holds 46 percent of the market.

For the first time, Bitcoin ETFs have overtaken pseudonymous Bitcoin inventor Satoshi Nakamoto as the biggest hodler. However, it is important to note that the ETF issuers themselves do not own the coins. Companies like BlackRock only make a profit from annual management fees.