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Wall Street Bets on Trump Market
Capital Flows Back into Bitcoin ETF
With the continuous release of cryptocurrency-friendly policies since the inauguration of U.S. President Donald Trump, Bitcoin and cryptocurrency prices have once again become the focus. The price of Bitcoin rebounded from a low of $75,000 in April to $96,000. Meanwhile, Trump’s appointed cryptocurrency czar David Sacks even unusually released a price prediction for Bitcoin.
Now, as Bitcoin rapidly approaches what BlackRock, the Bitcoin ETF giant, refers to as the “geopolitical fragmentation mega shock,” combined with an optimistic regulatory outlook for cryptocurrencies in the U.S. According to Forbes reports, leaked information indicates that Wall Street firms are quietly betting on the price surge of Bitcoin driven by Trump.
Insiders have revealed to financial media that high-frequency trading giant Tower Research Capital has joined Citadel Securities in significantly increasing capital allocation to crypto assets and upgrading market-making infrastructure to expand its bets on cryptocurrencies. Last week, Wall Street giant BlackRock, which manages a total of $10 trillion in assets, is expected to “officially open Bitcoin business” this year, allowing financial advisors to recommend Bitcoin ETFs to clients for the first time.
According to data from SoSoValue, 12 U.S. Bitcoin spot ETFs attracted nearly $2 billion in capital inflow last week, marking a return to growth after recent capital outflows synchronized with stock market volatility. Robert Mitchnick, head of BlackRock’s digital assets division, recently stated in a panel discussion at a Bitcoin and cryptocurrency conference that market funds are returning on a large scale.
