Bitcoin has broken all previous records and has now surged past $118,000 for the first time in history as record ETF inflows propel Bitcoin past $118,000, prompting another wave of institutional and retail interest.
The world’s biggest cryptocurrency is enjoying an incredible rally due to record demand for spot Bitcoin exchange traded funds (ETFs) along with a favorable policy environment.
ETF Inflows Skyrocket to Unprecedented Levels
On July 10, 2025, U.S. spot Bitcoin ETFs reached an all-time high with a combined net inflow of $1.18 billion—the largest single-day inflow of the year, and one of the largest on record. BlackRock’s iShares Bitcoin Trust (IBIT) led the way with $448.5 million; Fidelity’s FBTC at $324.3 million; and ARK 21Shares’ ARKB at $268.7 million. Total trading volume across the 12 spot Bitcoin ETFs surged to $6.3 billion—much higher than any daily level since late May.
| ETF Provider | July 10 Net Inflow (USD) | Year-to-Date Inflows (USD) |
| BlackRock (IBIT) | $448.5 million | $15.8 billion |
| Fidelity (FBTC) | $324.3 million | — |
| Ark 21Shares | $268.7 million | — |
| Bitwise (BITB) | $77.2 million | — |
| VanEck (HODL) | $15.2 million | — |
Combined, Bitcoin ETFs have now surpassed $50 billion in cumulative inflows since their debut in 2024, reflecting a seismic shift in how institutions access the crypto market.
What is behind the uptick?
Institutional Demand and Macro Dynamics
The uptick is supported by strong institutional demand. Bitcoin has increasingly captured the attention of large corporations and corporate treasuries as a macro hedge against uncertainty and volatility in global markets. Analysts hypothesize that ETF inflows represent upwards of 80% of Bitcoin’s raw price returns, which have outperformed even corporate treasury direct buys of bitcoin. With the continuous inflow of capital into these regulated investment vehicles, Bitcoin has responded to the price inflation with historic momentum.
A Supportive Policy Environment
The rally is also being driven by crypto-friendly policies seen during the Trump presidency, including a strategic Bitcoin reserve and appointment of “pro-crypto” figures. There is a buzz surrounding potential upcoming legislation, with Congress now working through a number of digital asset bills, to strengthen sentiment.
Short Squeeze and Retail Participation
The price surge has resulted in a wave of short liquidations, erasing over $1.25 billion in a single day when Bitcoin’s open interest also reached an all-time high. Retail investors who had previously been very cautious, are now joining the rally and helped establish a strong support above $100,000.
Market Impact and Analyst Outlook
- New highs: Bitcoin peaked at $118,396 with intraday highs getting close to $119,000.
- More crypto: Ethereum, XRP, and other altcoins rose as well, following Bitcoin’s record run.
- Analysts: Analysts continue to have bullish sentiment on Bitcoin, with some options traders focusing on $140,000 and $150,000 strikes to settle late this year.
The phrase record ETF inflows propel Bitcoin past $118,000 is representative of a watershed moment for digital assets. With institutional capital coming in, the establishment of supportive policies, and an increased retail presence, Bitcoin’s rise represents a new chapter in the cryptocurrency market. With bitcoin ETFs attracting billions, all attention will be on whether Bitcoin can maintain its rapid ascent and redefine the future of finance.
