32 Want to know more about Bitcoin ETFs Witness Renewed Inflows Amid Trump’s Threat to Dismiss Fed Chair Powell? In a week marked by significant political and financial developments, U.S.-listed Bitcoin exchange-traded funds (ETFs) experienced a resurgence in inflows, coinciding with President Donald Trump’s public criticism of Federal Reserve Chair Jerome Powell and suggestions of his potential removal.These events have stirred market dynamics, influencing both cryptocurrency investments and traditional financial markets.Bitcoin ETFs Witness Renewed Inflows ResumeAfter a period of outflows, Bitcoin ETFs saw a substantial return of capital.Weekly Inflows: Approximately $2.73 billion flowed into Bitcoin ETFs, marking the second-best week for these investment vehicles. Leading Contributors:BlackRock’s IBIT: $257.03 million on Friday, Dec. 6.Fidelity’s FBTC: $120.17 million.ARK and 21Shares’ ARKB: $24.9 million.This renewed interest is attributed to optimism about a more crypto-friendly regulatory environment under President Trump, who recently appointed pro-crypto former federal regulator Paul Atkins as SEC chair.Read more: Crypto Titans Collide | Bitcoin Price Analysis | KiloEX DEX HackedPresident Trump’s recent statements have raised concerns about the Federal Reserve’s independence.Criticism of Fed Chair: Trump has intensified his criticism of Jerome Powell, expressing dissatisfaction over interest rate policies and suggesting the possibility of Powell’s removal.Market Reaction: These comments have unsettled investors, leading to a decline in the U.S. dollar, which hit a decade-low against the Swiss franc. The euro surpassed $1.15, and the New Zealand dollar exceeded $0.60 for the first time in five months. Defense of Powell: Republican Senator John Kennedy defended Powell, stating that the Fed Chair has “tiger blood” and will “do what he thinks is right,” emphasizing the importance of the Federal Reserve’s independence.The recent resurgence in Bitcoin ETF inflows, amidst political tensions surrounding the Federal Reserve’s leadership, underscores the complex interplay between politics and financial markets. As investors navigate this landscape, staying informed and vigilant is crucial for making strategic decisions.
