Investors are placing money in spot Bitcoin (BTC) exchange-traded funds (ETFs) at the fastest clip since Donald Trump's election victory last November.
Market data shows that U.S.-listed spot Bitcoin ETFs registered cumulative net inflows of $802 million U.S. over the past week.
BlackRock's iShares Bitcoin Trust ETF (IBIT) attracted $661.8 million U.S. of that money as investors continue to focus on cryptocurrencies as Trump returns to power.
Additionally, digital wallets with a history of holding Bitcoin for more than 155 days are now scaling back their profit-taking activities, according to blockchain data tracking firm Glassnode.
Flows into spot Ethereum ETFs are also on the rise, gaining $74 million U.S. in the last five trading sessions.
At the same time that ETF inflows are growing, traders have been buying an increasing number of calls options on Bitcoin, which are bullish bets that the price will rise in the near-term.
Data shows that the number of call options on Bitcoin are now at their highest level since the U.S. election last November.
Analysts say that the options activity shows strong bullish sentiment gathering around Bitcoin, with traders positioning for upside exposure in crypto.
The bullish activity comes with Bitcoin's price sliding as low as $101,000 U.S., down from a record high above $109,000 U.S. on Jan. 20.
Analysts say investors and traders appear to be taking advantage of the pullback and positioning themselves for the next leg up in Bitcoin.
