As of Thursday, spot bitcoin ETFs have recorded an astonishing $1 billion in daily inflows, coinciding with bitcoin’s surge to an all-time high exceeding $118,000. This milestone marks one of the strongest days for these investment vehicles since their inception.

• Leading the charge, BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the quickest ETF to amass $80 billion in assets under management, achieving this in merely 374 days. In contrast, the previous record-holder, Vanguard’s S&P 500 ETF (VOO), took 1,814 days to reach the same benchmark, according to Bloomberg Intelligence’s senior ETF analyst, Eric Balchunas.

• Bitcoin’s price surge this year has led to a remarkable increase of 25%. This recent influx reflects a growing interest among investors for direct Bitcoin exposure through traditional brokerage channels, as spot bitcoin ETFs provide a more accessible entry point for both institutional and retail investors who may be hesitant regarding custody and compliance issues in the cryptocurrency sector.

Furthermore, the president’s media organization has recently applied for another spot bitcoin ETF under the Truth Social brand, which is still pending approval from the Securities and Exchange Commission. Other ETFs focused on tracking Solana, XRP, and additional cryptocurrencies have similarly not yet secured authorization from regulators.