Bitcoin Hits $118,760 All-Time High as ETFs See $1.18 Billion Inflows

Bitcoin spot ETFs experienced a significant surge in inflows, with a total of $1.18 billion flowing into these investment vehicles in a single day. This substantial influx of capital drove Bitcoin to a historic price peak of $118,760, marking a new all-time high for the cryptocurrency. The surge in ETF investments was largely attributed to large-scale institutional buying, which has been reshaping the dynamics of the crypto market.

According to data, the inflows of Bitcoin spot ETFs on July 10 amounted to $1.18 billion, making it the second-highest single-day figure of all time. This institutional demand propelled Bitcoin to a new all-time high of $118,760. The influx of capital into U.S. spot Bitcoin ETFs has increased to an all-time high, with significant contributions from major players such as BlackRock’s IBIT and Fidelity FBTC. This influx generated net inflows of more than $51 billion into Bitcoin spot ETFs.

Asset managers, corporate treasuries, and wealth platforms continue to drive demand, according to the latest inflow statistics. Seven of the twelve Bitcoin funds experienced net inflows, with IBIT leading the way and FBTC following closely behind. The steady flow of funds into these regulated ETF products has altered the market dynamics of Bitcoin, where big investors have increased their investments. This trend indicates a stable supply of capital flowing from asset managers, corporate treasurers, and wealth platforms into the market.

The price of Bitcoin followed the momentum of the ETF, reaching a high of above $118,450 before declining to $118,140. The new record of $118,760 for the token highlighted the influence of ETF-fed demand on price exploration. The inflows of ETFs are now a characteristic of the institutionalization of Bitcoin. The standardized nature of the spot ETFs has allowed conventional investors to gain exposure to crypto without the need for custody, private keys, or unregulated exchanges.

The ETF wrapping has opened the door to new market segments and already has billions in assets in products issued by major financial institutions. The cumulative inflows of all the U.S. spot Bitcoin ETFs have now reached a mark of almost 6 percent of the total Bitcoin supply, with more than 1.25 million BTC being held by the funds. Ethereum has also seen significant inflows, with its Ether spot ETFs registering $383 million in net inflows on the same day, the second-largest daily inflow figure for the asset. The price of Ether rose to more than $3,000, indicating strong institutional interest in the broader crypto market.

The change in market dynamics was highlighted in a recent statement: Bitcoin is no longer being viewed as a high-risk outlier but more like a long-duration macro asset. The infrastructure is ready, regulatory clarity is on the rise, and capital is flowing with a long-term perspective. This is what is causing the inflows, and it is not abating. The new all-time high of Bitcoin and unprecedented ETF inflows are indicators of a turning point in the cryptocurrency market as institutional involvement becomes more ingrained and transforms the environment.