Hopes for the new Trump administration: Approximately $10 billion flows into US Bitcoin ETF

Following Donald Trump's victory in the US presidential election, it has been reported that nearly $10 billion (approximately 16 trillion yen) has flowed into US Bitcoin exchange-traded funds (ETFs).
According to data compiled by Bloomberg on the 9th (local time), 12 bids issued by BlackRock Inc., Fidelity Investments and others
The tocoin ETF fund has seen a net inflow of about $9.9 billion since Election Day on November 5. Last week, President-elect Trump appointed the new chairman of the U.S. Securities and Exchange Commission (SEC) as the cryptocurrency's first president.
The Biden administration has been skeptical of cryptocurrencies, but Trump has passed rules that support the regulation of cryptocurrencies.
He also supported the idea of a strategic state holding of Bitcoin. Republicans have been skeptical of cryptocurrencies, but have been reluctant to see the industry actively promoting their interests.
Bitcoin surpassed $100,000 for the first time on the 5th, trading at $98,860 in Singapore as of 11:55 a.m. on the 9th.
Until the previous day, Bitcoin had risen for six consecutive weeks, the longest upward trend since the 2021 virtual currency boom.
However, cryptocurrency experts say there is no sign of a sustained, decisive push past $100,000.
He said additional positive catalysts may be needed to make the move.