After the U.S. elections on November 5, American spot Bitcoin ETFs saw inflows of approximately $9.9 billion, pushing the total value of assets under management to $112.7 billion, according to Bloomberg.

The Trump Effect

Analysts attribute this surge to the election of Donald Trump as the 47th President of the United States. During his campaign, Trump pledged support for the crypto industry, appointing pro-crypto advocates to key positions, including a candidate for SEC chair, as well as the first-ever “crypto czar” in U.S. history.

On December 5, Bitcoin broke its previous all-time high, surpassing $100,000 and reaching a peak of $104,088 on Binance.

The cryptocurrency has been on a six-week winning streak, the longest bullish run since 2021.

Volatility and Market Sentiment

Following its ATH, Bitcoin experienced a brief dip to $90,500, sparking heightened volatility. Despite this, experts remain optimistic about continued growth, albeit with potential short-term corrections.

Ethereum ETF Success

Spot ETFs focused on Ethereum have also benefited, attracting over $2 billion in inflows since Trump’s victory. The total assets under management for Ethereum ETFs now stand at $13.4 billion, with $5.94 billion held by Grayscale’s ETHE.

Despite a cumulative outflow of $3.5 billion following ETHE’s conversion to an ETF, the fund remains a leader in the market.

On December 6, Ethereum surpassed $4,000 for the first time since March, signaling the potential for a new all-time high. Stabilizing inflows into ETF products are seen as a key driver for this upward momentum.

Ethereum Outlook

Analyst VentureFounder highlighted the formation of a “cup and handle” pattern on Ethereum’s chart, predicting a potential surge to $7,200 within the next four months.

Institutional demand continues to reinforce the bullish trajectories of both Bitcoin and Ethereum, marking a historic period for the crypto market.