What to know:
- Spot bitcoin ETFs broke the internet (well, sort of) with over $1 billion in daily inflows on Thursday as BTC decided to go on a little adventure, hitting a spontaneous all-time high. 🎉
- In a race that no one knew they were running, IBIT has catapulted its way to the title of “Fastest ETF to $80 Billion” – and they say money can’t run! 🏃♂️💨
- Bitcoin is now basking in the glow of a 25% increase since the beginning of the calendar year. Talk about a glow-up! ✨
So, picture this: spot bitcoin exchange-traded funds (ETFs) are raking in over $1 billion in inflows on Thursday. This is not just any Thursday; this is a Thursday where bitcoin broke its own record by soaring above $118,000. The excitement could practically start a conga line. 💃
Leading this parade of prosperity was BlackRock’s iShares Bitcoin Trust (IBIT), which blazed through the $80 billion mark with all the elegance of a racing cheetah sipping espresso. It took IBIT just 374 days to reach this summit – a mere fraction of the time it took the previous record-holder, Vanguard S&P 500 ETF (VOO), who leisurely strolled to the same milestone in a whopping 1,814 days. Thank you, Eric Balchunas from Bloomberg Intelligence, for letting us know we should probably have a little nap in between. 😴
Now, let’s get real: IBIT is strutting its stuff as the 21st largest ETF globally. Quite the achievement for a fund that just joined the party a little over a year ago when spot bitcoin ETFs were finally given a proper invitation in the U.S. 🎈
Thursday’s $1 billion inflow was only the fourth instance of spot bitcoin ETFs earning daily totals that large – the last occasion being during the grand significance of U.S. President Donald Trump taking office, when everyone else was busy trying to figure out how to fit that into conversation. Go figure! 🤷♂️
The growing appetite for direct bitcoin exposure is akin to watching a favorite buffet come back after a long hiatus. Spot bitcoin ETFs are making things easier for investors, both institutional and retail, who might be hesitant to dive into the wild waters of crypto custody and compliance. 🥴
Oh, and just when you thought we were done, Trump’s Media company is throwing its hat in the ring with another spot bitcoin ETF under the Truth Social brand. Approval? Coming soon to a regulatory theater near you! Or not… Stay tuned. 🎭
Meanwhile, several ETFs tracking the prices of Solana, XRP, and other crypto-assets are still waiting on the green light from our friend, the Securities and Exchange Commission. 🛑
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2025-07-11 18:18