Inflows into spot Bitcoin exchange-traded funds in the U.S. slowed down on Feb. 5 following remarks from Trump’s crypto policy advisor regarding the potential implementation of a national strategic Bitcoin reserve.
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $66.38 million in net inflows on Wednesday, 80% lower than the $340.82 million inflows seen over the previous day. The majority of inflows came into BlackRock’s IBIT with $44.35 million entering the fund.
WidomTree’s BTCW and Fidelity’s FBTC also contributed to the positive momentum with inflows of $11.38 million and $10.65 million respectively. The nine remaining spot Bitcoin funds saw no inflows or outflows on the day.
The total trading volume for these investment products stood at $2.04 billion on Feb. 5 while the total net inflows into them since launch day stood at $40.67 billion.
Notably, the dip in inflows on Wednesday likely stemmed from a recent conversation outlining President Donald Trump’s vision for America’s digital asset landscape. During the discussion, Trump’s crypto czar failed to provide any new developments regarding the implementation of a strategic Bitcoin reserve for the nation, aside from stating that exploring the “feasibility of a strategic BTC reserve” remains a top priority for the crypto council.
The uncertainty surrounding the government’s stance on a U.S. strategic Bitcoin reserve, which Trump promised months before winning the presidential election, has led to cautious sentiment among BTC investors.
At press time, $BTC
btc
0.92%
Bitcoin was down 0.4%, exchanging hands at $98,847 per coin.