Spot Bitcoin ETFs broke a record with a total net inflow of $30 billion, while the Bitcoin price reached $99,300 and approached the $100,000 target. The total net asset value of US-based ETFs surpassed $100 billion as inflows, driven by large funds such as BlackRock and Fidelity, supported the positive sentiment in the market. On Thursday alone, 12 Bitcoin ETFs saw net inflows of $1 billion, with BlackRock's IBIT fund the largest contributor at $608 million, according to SoSoValue data.
Bitcoin's rise has been fueled by rising ETF trading volumes and positive market expectations following the re-election of former president Donald Trump. Ethereum ETFs, however, recorded outflows of $9 million on Thursday, continuing a six-day streak of negative flows. These developments show that the general trends in the markets are shaping in favor of Bitcoin.
