Trump’s Executive Orders Generate $1.9 Billion in Crypto Fund Inflows
Last week, major crypto funds saw a record net inflow of $1.9 billion, according to CoinShares. Key asset managers involved include BlackRock, Grayscale, Fidelity, Bitwise, ProShares, and 21Shares. This surge in investment may be linked to recent executive orders from President Donald Trump.
- Trump issued a full pardon to Ross Ulbricht, the Silk Road operator, ending his life sentence.
- The president signed an executive order creating a "Presidential Working Group on Digital Asset Markets" to develop federal regulatory frameworks for digital assets.
- No global digital asset investment product experienced net negative capital flows last week.
US-Based Crypto Investments Lead the Way
US-based crypto funds contributed significantly to the inflows, adding $1.7 billion. Other countries followed with Switzerland at $35 million, Canada at $31 million, and Germany at $23 million.
Despite these developments, Bitcoin's price dropped below $100,000 after reaching an all-time high of $109,000 on January 20, with nearly $850 million in liquidations occurring in the market. As of now, Bitcoin trades at $100,246.