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BITX Jumps 8.62% as Bitcoin Surges on Pro-Crypto Trump Policy Hopes

The 2x Bitcoin Strategy ETF (BITX) closed on January 17th at $63.92, marking an 8.62% increase as Bitcoin surged past $105,000, driven by anticipation of pro-crypto policies from President-elect Donald Trump. Bitcoin's price rose 5.03% to $105,006.74, fueled by expectations of executive orders that could prioritize cryptocurrency as a national policy, including the creation of a strategic Bitcoin reserve. This optimism has led to significant inflows into Bitcoin ETFs, with $1.3 billion recorded over the past two days, reflecting growing confidence in the asset class. The market's enthusiasm is further supported by a broad rally in crypto-related stocks, with MicroStrategy and Coinbase seeing substantial gains.