$BTC has jumped since third-party data showed that investor demand has continued to rise 📉 this month. All spot Bitcoin ETFs have added over $700 million 💰💰 in inflows this week, bringing the total inflows to over $53 billion 💲💲💲. All Bitcoin ETFs now have more than $50 billion in assets. 💵💴💶🪙
The iShares Bitcoin ETF has over $85 billion in assets and is the eighth largest fund managed by BlackRock. It is also the most profitable due to its expense ratio of 0.25%.
Bitcoin also rose amid growing concerns that Donald Trump was considering firing Jerome Powell. Although he has denied the report, he is likely to use the ongoing renovation of the Fed building to justify his dismissal, as analysts do not expect him to cut rates in the short term.
A decision by Trump to fire Powell would be bullish for Bitcoin, as many investors see it as a better alternative to the U.S. dollar. Bitcoin has a fixed supply of 21 million and its supply has been steadily decreasing.
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