Bitcoin surged past $108,000 on Monday, reaching a new all-time high as spot bitcoin exchange-traded funds recorded their largest single-day net inflows since inception. The milestone comes amid growing institutional adoption and renewed optimism following the U.S. presidential election.
According to data from Farside Investors, the 11 U.S. spot bitcoin ETFs collectively attracted $1.38 billion in net inflows on Friday, surpassing the previous record set in March. BlackRock’s IBIT led with $849 million, followed by Fidelity’s FBTC at $312 million. The surge pushed total assets under management across the ETF complex above $105 billion.
“We’re seeing a structural shift in how institutions access bitcoin,” said Matt Hougan, chief investment officer at Bitwise Asset Management. “The ETF wrapper has removed the operational and custody barriers that kept many traditional allocators on the sidelines. Friday’s flows represent a tipping point.”
Bitcoin’s ascent above $108,000 marks a 140% gain year-to-date, outperforming every major asset class including the S&P 500, gold, and tech stocks. The rally has been fueled by a confluence of factors: the Federal Reserve’s pivot toward rate cuts, increasing corporate treasury adoption, and the pro-crypto stance of the incoming Trump administration.
MicroStrategy, the largest corporate holder of bitcoin, added another 15,400 BTC to its treasury last week at an average price of $100,386, bringing its total holdings to 402,100 BTC valued at approximately $43.5 billion. Other public companies, including Semler Scientific and Marathon Digital, have announced similar treasury strategies in recent weeks.
Technical analysts point to bitcoin’s break above the $100,000 psychological barrier as a key inflection point. The cryptocurrency has now consolidated above this level for three consecutive weeks, a pattern historically associated with sustained upward momentum. Options markets show heavy call buying at $120,000 and $150,000 strikes for December and January expirations.
Ether, the second-largest cryptocurrency by market capitalization, also rallied to $4,850, its highest level since November 2021. The ETH/BTC ratio has stabilized near 0.045, suggesting ether is participating in the broader risk-on move rather than lagging behind bitcoin’s advance.
Meanwhile, the Chicago Mercantile Exchange reported record open interest in bitcoin futures, with institutional positioning reaching net long levels not seen since the 2021 bull market. Funding rates across major perpetual swap markets remain elevated but not excessive, suggesting the rally still has room to run before overheating.
Source: The Crypto Investigator
