BlackRock’s spot Bitcoin ETF experienced record inflows exceeding $1 billion, largely influenced by Donald Trump’s recent presidential election win. On November 7, BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw $1.1 billion in inflows, recovering from previous outflows. Bitcoin reached new all-time highs at $76,943, with IBIT accounting for 82% of total inflows among US-listed spot Bitcoin ETFs. Meanwhile, the State of Michigan Retirement System added exposure to Ethereum ETFs, enhancing its previous Bitcoin investment. Pakistan’s State Bank proposed regulations to legalize cryptocurrencies and issue a central bank digital currency following discussions on the future of digital assets. Trump’s victory is viewed positively within the crypto community, seen as a potential boost for the industry as he promises to end the war on crypto. Additionally, crypto analyst predictions suggest Bitcoin could hit $110,000 soon due to current trends. On the negative side, incidents such as the kidnapping of a crypto CEO for ransom and regulatory actions against BlockFi highlight ongoing challenges in the industry.

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