On Wednesday, Bitcoin ETFs saw a massive $773 million in net inflows, as the price of Bitcoin hit new record highs.
Bitcoin exchange-traded funds (ETFs) have surged past $100 billion in total assets, marking a significant milestone just 10 months after their debut in January. This group of 12 Bitcoin ETFs, issued by major financial institutions such as BlackRock and Fidelity Investments, has seen rapid growth, becoming one of the most successful fund category launches in recent history.
On Wednesday, Bitcoin ETFs saw a massive $773 million in net inflows, as the price of Bitcoin hit new record highs. By Thursday, Bitcoin had reached a remarkable value of $97,892, continuing its upward momentum toward the $100,000 mark.
The surge in Bitcoin’s price is being fueled by growing optimism surrounding the crypto industry, particularly due to President-elect Donald Trump’s stance on digital assets as per Bloomberg.
Discussions within Trump’s transition team are considering the creation of a dedicated White House position focused on digital-asset policy—potentially a historic move for the US. Crypto advocates are pushing for this role to have direct access to the president-elect, who has emerged as a prominent supporter of cryptocurrency.
Caroline Bowler, CEO of BTC Markets, pointed out that “This price rally is being fed by the frequent pro-crypto news linked to the incoming Trump administration.”
Since the US Election Day on November 5, Bitcoin ETFs have seen $5.8 billion in net inflows. The cryptocurrency has skyrocketed by 129% in 2024, outpacing stocks, gold, and other traditional assets.