BlackRock Bitcoin ETF inflows have restarted due to institutional demand, as the BTC price hits the $100,000 mark before Trump’s inauguration.
On Thursday, the BlackRock Bitcoin ETF (IBIT) received $528 million in inflows, scooping up 5250 Bitcoins from the open market. It indicates renewed institutional interest in BTC, as the price rocketed beyond the $100,000 milestone in a strong bullish trend. Macro considerations have provided significant support for the bullish momentum.
BlackRock Bitcoin ETF inflows resume again
BlackRock’s iShares Bitcoin Trust (IBIT) received a whopping 5,250 Bitcoins yesterday, which is approximately 12 times the daily output value of 450 BTC. This demonstrates that the institutional desire for Bitcoins is once again expanding, as BTC breaks over a key barrier level of $100,000.
Since the beginning of 2025, IBIT has had a mix of inflows and outflows, with $55.691 billion in net assets under administration. While the BlackRock Bitcoin ETF achieved this milestone within a year of its introduction, the company’s gold ETF took two decades to reach the same level.
Farside Investors reported net inflows of $626 million on Thursday, with BlackRock’s IBIT accounting for 85% of the total. Ark Invest’s ARKB finished second, with more than $155 million in inflows yesterday.
Earlier this week, BlackRock launched a Bitcoin ETF variation on the CBOE market in Canada, citing rising worldwide demand. According to Bloomberg senior ETF analyst Eric Balchunas, Fidelity moved quickly to reduce the cost levied on its Canada BTC ETF to 32bps, mirroring rates charged on BlackRock ETFs.
Fidelity is cutting the fee on its Canada bitcoin ETF to 32bps to match BlackRock who just launched one up there at 32bps. Both are now the cheapest in the market. US issuers bringing some terrordome action to Canada. (note the Fidelity guy is going on Reddit to answer qs) pic.twitter.com/667Lz4gCp3
— Eric Balchunas (@EricBalchunas) January 16, 2025
BTC price smashes past $100K resistance
With important news from BlackRock Bitcoin ETF after the decline in core CPI for December, the BTC price has recovered quickly, gaining 8% on the weekly chart.
As of press time, the price of Bitcoin is trading 2% higher at $101,334 with a market capitalization of $2 trillion. According to Coinglass statistics, 24-hour liquidations have increased to $90 million, with short liquidations accounting for $50 million.
On-chain metrics are also improving, with the Bitcoin exchange balance reaching a seven-year low. This supply shock might serve as an additional fuel for the BTC price surge to continue.
However, with the latest spike, investors are curious about the confirmation of the Bitcoin upswing. Miles Deutscher, a cryptocurrency expert, stated: “Clearing the range high was step one, but Bitcoin must surpass the previous high at $102,500 to confirm a new uptrend.”
Failure to breach this level might cause Bitcoin to re-enter its previous range, resulting in sideways volatility, he noted. Deutscher identified the approaching Trump inauguration as a big market driver.
Ripple CLO denies rumors of Trump criticism over campaign donations
Ripple CLO Stuart Alderoty debunks allegations that Trump is slamming Ripple for supporting Kamala Harris, demonstrating the confusion in cryptocurrency news.
Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), has aggressively rejected recent claims about the business and its management. Rumors circulated that former President Donald Trump chastised Ripple for suspected financial backing for Kamala Harris during a previous race. Alderoty denied the charges as false and wholly contrived, describing them on Twitter as “pure fiction.”
Ripple CLO refuses claims of political allegations
Rumors have begun to circulate following a piece by Unchained, which indicated that sources claimed Ripple had a chat with Trump during which he purportedly criticized the firm. In the article, Trump claimed that Ripple did not support his administration at a critical moment, and that Chris Larsen, Ripple’s co-founder, had given to PACs supporting Kamala Harris.
The study also stated that Ripple may have influenced another rumor published in the New York Post. According to the speculation, Trump is open to incorporating non-Bitcoin American cryptocurrencies like XRP in a national reserve. Following the article, the price of Ripple’s native cryptocurrency, XRP, increased significantly, reaching a seven-year high of $3.40.
Ripple’s chief legal officer, Stuart Alderoty quickly fired back at the allegations on social media and questioned the origins of the information from the unnamed sources. “The rumors published by this third-tier crypto rag are pure fiction. Completely made up,” Alderoty wrote on X.
John Deaton criticizes speculative reporting
Prominent attorney John Deaton, a major participant in the XRP ecosystem, attacked the speculative reporting in the same way that Ripple CLO has. Deaton questioned the veracity of unidentified sources and stressed the significance of evidence-based statements.
Deaton took to X to share his thoughts. He wrote,
” Let me get this straight, a person who was not at the meeting told another person that they were guessing what may have been said at the meeting?” This is why we have rules of evidence in Court.”
Deaton also warned against the perils of “tribalism” in the cryptocurrency industry, which is frequently characterized by organizations attempting to create fear, uncertainty, and doubt (FUD) about competing initiatives. According to him, XRP’s recent market performance, which has outperformed Bitcoin and other cryptocurrencies, was certain to raise questions.
XRP price hits 7 year high amid controversy
The conjecture occurred at the same time as an extraordinary spike in XRP usage, which reached more than 2,365 $100K transactions. Concurrently, the XRP price has risen by more than 10% in the previous 24 hours, reaching a seven-year high on anticipation that the digital asset may be included to the US strategic digital assets reserve.
Other sources, including the New York Times, reported that Ripple’s CEO, Brad Garlinghouse, encouraged Trump to explore creating such a reserve to include cryptocurrencies other than Bitcoin. Despite these assertions, no research could determine if Trump accepted the proposal or not.
Susan Hendrick, Ripple’s spokesperson, acknowledged that Garlinghouse contacted the former president, but she disputed that Ripple was behind the claims about Trump endorsing XRP. “All those allegations are lies,” she said Unchained when challenged with them.
The dispute comes at a time when Ripple is still embroiled in a legal battle with the United States Securities and Exchange Commission (SEC). The SEC has filed an appeal of US District Judge Analisa Torres’ 2023 judgment, which determined that XRP sales on cryptocurrency trading platforms did not constitute securities transactions.
DOGE’s Elon Musk makes Bitcoin joke at Janet Yellen after US Treasury Breach
DOGE CEO Elon Musk pokes fun at US Treasury Secretary Janet Yellen, claiming she fell victim to a Bitcoin Ponzi scheme that resulted in a breach.
Tesla CEO Elon Musk, who will run the Department of Government Efficiency (DOGE) in the Donald Trump administration, has fired a new Bitcoin jab at US Treasury Secretary Janet Yellen in response to the recent Chinese hack. His comments come as the investigation into the suspected Chinese breach of the US Treasury Department earlier this month continues.
DOGE Chief Elon Musk takes a Bitcoin jibe at Janet Yellen
Late Thursday, new allegations from the inquiry claimed that Chinese hackers obtained access to US Treasury Secretary Janet Yellen’s computer during the latest intrusion. Elon Musk responded, saying, “Maybe she clicked on the “give me 1 bitcoin, I send you 2 btc” email”.
Maybe she clicked on the “send me 1 btc, I send you 2btc” email 😂 https://t.co/mtIfZ4Cd4Z
— Elon Musk (@elonmusk) January 17, 2025
The DOGE head joked that Janet Yellen may have fallen victim to an email scam in which the fraudster requests 1 Bitcoin (BTC) and promises to provide 2 Bitcoin (BTC) in exchange. This is a popular sort of advance fee scam in which hackers deceive the victim into sending a higher amount back, which seldom occurs.
It’s been a while since Elon Musk spoke on Bitcoin, and it comes at a time when the BTC price has successfully broken over the $100K obstacle. As of press time, the BTC price is trading 1.6% higher at $101,183.41, firmly establishing the $2 trillion market value.
Chinese hackers breached US Treasury Secretary’s computer
During the continuing probe, a source familiar with the subject informed Bloomberg that Chinese hackers infiltrated Janet Yellen’s computer and gained access to unclassified material. One of the sources said that less than 50 files on Yellen’s computer were accessed.
According to insiders, the attackers also gained access to the laptops of two of Yellen’s senior staffers, Deputy Secretary Wally Adeyemo and Acting Under Secretary Brad Smith.
Furthermore, the attackers primarily targeted the Treasury Department’s participation in sanctions, intelligence, and foreign affairs, but did not compromise its email or classified systems, according to a previous Treasury study.
about Wednesday and Thursday, Treasury officials briefed congressional staffers and legislators about the incident. These negotiations took place on the same day that Scott Bessent, President-elect Donald Trump’s nomination for Treasury secretary, was confirmed by the Senate Finance Committee.
