Bitcoin Hits New Record Near $110K; IBIT Leads ETF Flows
- Bitcoin prices hit an all-time high for the first time since January.
- The iShares Bitcoin Trust (IBIT) is riding that wave to massive inflows.
Bitcoin surged to a new all-time high on Wednesday, hitting $109,856 and topping its previous record of $109,241 set in January. Prices are up 14% since the start of the year.
The milestone marks a dramatic rebound for the cryptocurrency, which dipped below $75,000 just over a month ago during peak investor anxiety tied to President Donald Trump’s trade policies.
Bitcoin, IBIT Go Risk-On
Since that bottom on April 9, renewed risk appetite in financial markets has fueled a broad recovery in risk assets, from tech stocks to cryptocurrencies. Bitcoin and the ETFs tied to it have been standout performers.
The iShares Bitcoin Trust (IBIT), the largest and most popular of the U.S.-listed spot Bitcoin ETFs, is riding that wave to massive inflows. The fund hasn’t seen a single day of outflows since its April low, pulling in $6.6 billion since then and $8.9 billion year to date.
IBIT Fund Flows—Source: FactSet data
That’s the fifth-largest haul of any U.S.-listed ETF in 2025, trailing only behemoths like the Vanguard S&P 500 ETF (VOO) and the Vanguard Total Stock Market Index Fund ETF (VTI).
The iShares Bitcoin Trust now manages just under $68 billion in assets, a record for the fund and a dominant share of the overall crypto ETF category. It accounts for more than half of the $135.6 billion currently held in U.S.-listed spot crypto ETFs.
With IBIT capturing the lion’s share of attention and assets, other spot cryptocurrency funds have been left in the dust. Excluding IBIT, the rest of the ETFs have seen combined outflows of $1.4 billion this year, underscoring how the leading Bitcoin ETF has become the go-to vehicle for investors betting on gains in crypto.
Crypto remains a high-octane bet on investor optimism, and no ETF stands to benefit more from that than IBIT.
