US Spot Bitcoin ETFs Surpass $100B as Bitcoin Nears $100K

Bitcoin

US Spot Bitcoin ETFs Surpass $100B as Bitcoin Nears $100K

• Bitcoin ETFs reach $100.55B just 10 months post-launch.
• Trump explores White House crypto policy role, boosting Bitcoin.

US spot Bitcoin exchange-traded funds (ETFs) have achieved a historic milestone, surpassing $100 billion in total assets. This comes just ten months after their debut in January, marking one of the fastest fund category launches in history.

Twelve spot Bitcoin ETFs, including products from BlackRock Inc. and Fidelity Investments, reached a combined asset value of $100.55 billion on Wednesday. This figure represents 5.4% of Bitcoin‘s total market capitalization. BlackRock’s IBIT leads the pack with $45.4 billion, while Grayscales GBTC holds $20.6 billion.

Bitcoin‘s surge continues to drive ETF inflows, which totaled $733.5 million on Wednesday and $837.36 million the day before. Since the US election on November 5, ETFs have seen $5.8 billion in net inflows, fueled by optimism around President-elect Donald Trump’s pro-crypto stance.

Record 2024 Gains for Bitcoin

Trump‘s transition team is reportedly exploring a dedicated White House digital-asset policy post, signaling potential institutional support for cryptocurrencies. This pro-crypto sentiment has bolstered Bitcoin’s price, which climbed 3.6% to a record $97,892 on Thursday.

The cryptocurrencys value has risen 129% in 2024, outperforming traditional assets like stocks and gold. Futures markets reflect similar optimism, with March contracts trading at a premium of 5% to the spot price.

Analysts attribute the rally to several factors, including increased institutional adoption and the recent introduction of Bitcoin ETF options. BlackRocks iShares Bitcoin Trust led the launch of these options on November 5, followed by products from Grayscale and Bitwise.

The availability of Bitcoin ETF options has further solidified Bitcoin as a mainstream asset. It has attracted a growing number of institutional investors seeking to integrate cryptocurrency into their portfolios.

Bitcoin futures on platforms like Deribit also signal strong market sentiment. Contracts expiring in 2024 trade above $100,000, while options with $100,000 strike prices show significant interest.