{"id":598348,"date":"2024-11-14T06:42:56","date_gmt":"2024-11-14T06:42:56","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=598348"},"modified":"2024-11-14T16:43:18","modified_gmt":"2024-11-14T16:43:18","slug":"bitcoin-overtakes-saudi-aramco-to-become-the-7th-largest-asset-in-the-world-as-btc-etf-inflows-reach-4-7-billion-in-6-days","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-overtakes-saudi-aramco-to-become-the-7th-largest-asset-in-the-world-as-btc-etf-inflows-reach-4-7-billion-in-6-days","title":{"rendered":"Bitcoin Overtakes Saudi Aramco To Become The 7th Largest Asset In The World As BTC ETF Inflows Reach $4.7 Billion In 6 Days"},"content":{"rendered":"

Crypto market leader Bitcoin (BTC) has become the seventh largest asset by market capitalization as US spot Bitcoin ETF (exchange-traded fund) inflows reach $4.7 billion over the past six days.<\/span><\/p>\n

Bitcoin<\/span><\/a> surpassed Saudi Aramco with its valuation of $1.803 trillion after the leading crypto reached a market capitalization of  $1.809 trillion, according to data from <\/span>Companies Market Cap<\/span><\/a>. <\/span><\/p>\n

This comes after the flagship crypto recorded a more than 4% gain throughout the past 24 hours to trade at $91,494 as of 8:24 a.m. EST.<\/span><\/p>\n

\"File:Donald<\/p>\n

Republican Trifecta And Donald Trump Victory Fuel Optimism In The Crypto Market<\/span><\/h2>\n

BTC’s 24-hour performance is an extension of the rally the crypto has been in over the past week. Much of this momentum started after pro-crypto Republican <\/span>Donald Trump<\/span><\/a> won the US presidential election on Nov. 5. Republicans have since also won the House, completing the trifecta and fueling optimism of more favorable crypto policy in the US.<\/span><\/p>\n

The <\/span>Crypto Fear and Greed Index<\/span><\/a> shows that sentiment has gone from a “Greed” reading of 65 prior to the US elections to an “Extreme Greed” reading of 88 today.<\/span><\/p>\n

Should this positive sentiment be maintained through the course of the next few weeks, BTC’s capitalization might end up surpassing that of Google, which is under $400 billion more than BTC’s.<\/span><\/p>\n

Spot Bitcoin ETF Inflows Surge<\/span><\/h2>\n

Another factor contributing to BTC’s rising market cap is a spike in spot BTC ETF net inflows. In just the last 6 days, these investment products have seen $4.7 billion enter their reserves collectively, according to <\/span>Farside Investor data<\/span><\/a>.<\/span><\/p>\n

\n

Good morning,<\/p>\n

Yesterday's Bitcoin ETF flows were positive for $510.1 million.<\/p>\n

Blackrock did $230.8 million, Fidelity $186.1 million and BTC (mini-ETF) $61.3 million.<\/p>\n

Price jumped from $87k to $93k before crashing back down to $89.7k now.<\/p>\n

source: @FarsideUK<\/a> pic.twitter.com\/BMgk1E6M52<\/a><\/p>\n

— WhalePanda (@WhalePanda) November 14, 2024<\/a><\/p><\/blockquote>\n