Bitcoin’s rise above $105K sparks renewed interest in crypto ETFs ahead of Trump’s inauguration, signaling potential policy shifts.
With Trump’s potential policies on the horizon, several crypto ETFs are seeing a nice bounce back. This comes after a bit of a rough patch when inflation news had everyone worried about the Fed’s next moves.
Last week, Bitcoin ETFs saw a hefty outflow of $582 million, but the excitement around Trump’s pro-crypto vibe is keeping spirits high. Plus, his choice of Paul Atkins, a crypto-friendly lawyer, to lead the SEC could really help the scene.
In other news, Hut8, a Bitcoin mining company, is planning a massive $12 billion AI data center in Louisiana, possibly teaming up with Meta. This could really blend blockchain and AI, drawing more eyes to crypto investments.
Crypto ETFs are a cool way to invest in digital currencies without the hassle of owning them directly. They offer a mix of stocks like Coinbase and Marathon Digital, plus they’re generally more liquid than some cryptos. But, of course, there are still worries about price swings and regulations.
Looking at some specific ETFs, the ProShares Bitcoin ETF has been on a roll, climbing above its 50-day moving average. The VanEck Digital Transformation ETF is also doing well, tracking a bunch of big names in the digital asset space.
The Amplify Transformational Data Sharing ETF is back on track too, with solid holdings and a decent yield. Meanwhile, the Bitwise Crypto Industry Innovators ETF is bouncing back after a dip, thanks to renewed optimism.
Lastly, the Valkyrie Bitcoin Miners ETF is showing promise again after a recent surge. It’s a good time to keep an eye on these developments as the crypto landscape continues to evolve.
