US Bitcoin ETFs Top $100 Billion as Bitcoin Hits Record $97,094

Nov 21, 2024, 12:52 PM

US exchange-traded funds (ETFs) investing directly in Bitcoin have surpassed $100 billion in total assets, less than a year after their launch in January, as the cryptocurrency extends its record-breaking rally. Bitcoin's price surged to an unprecedented $97,094, propelling the net asset value of US spot Bitcoin ETFs to $100.55 billion. BlackRock's IBIT leads the pack, managing $45.4 billion in net assets, including a $626 million inflow in a single day, followed by Grayscale's GBTC with $20.6 billion. Year-to-date inflows into these ETFs are approaching $30 billion, double earlier bullish estimates and accelerating in the fourth quarter. Market analysts are calling it the greatest ETF launch ever, citing absolutely incredible demand.