Leading this surge is BlackRock's iShares Bitcoin Trust (IBIT), which has attracted over $30 billion in net inflows since its launch in January 2024. Fidelity's Wise Origin Bitcoin Fund (FBTC) follows with more than $11 billion in inflows.

A notable increase in inflows in recent weeks, as shown here on this chart from Bloomberg.

Glassnode data reveals 90% of sell-side pressure on Bitcoin has been absorbed by ETF flows, reducing volatility and fostering a more stable market environment.

Notably, Bitcoin ETFs are on track to surpass gold ETFs in net assets, which currently hold approximately $120 billion. This trajectory reflects a shift in investor preference towards digital assets as a store of value.

Bitcoin ETFs are on track to surpass gold ETFs in assets, signaling a growing preference for digital assets as a store of value.

This data shows a visual comparison of the price between BTC and Gold. Chart from Tom Zottner on Linked In

The recent U.S. presidential election has further bolstered the crypto market, with President-elect Donald Trump's pro-crypto stance contributing to increased investor optimism and inflows into Bitcoin ETFs.

Bitcoin Nashville Conference 2024

Having reached $100 billion USD in total assets for U.S. Bitcoin ETFs underscores the maturation of Bitcoin as an asset class but also signifies a broader acceptance of digital assets in mainstream finance. We look forward to witnessing continued growth and innovation in this dynamic sector.