With bitcoin prices hitting new highs and approaching the $0.1 million mark, the total assets of the USA exchange traded funds (ETFs) directly investing in bitcoin have surpassed $100 billion.
Including Blackrock and Fidelity Investments' products, 12 bitcoin ETFs listed in January this year reached this milestone in just 10 months, becoming one of the most successful fund categories ever issued.
Data shows that as bitcoin reaches record highs, they recorded a net inflow of $0.773 billion on Wednesday.
On Thursday, bitcoin briefly rose by 3.6% to reach a record $97,892. Since the U.S. election on November 5, these bitcoin ETFs have seen a net inflow of $5.8 billion. So far this year, the price of bitcoin has risen by 129%, outperforming stocks, gold, and other assets.