Demand for Bitcoin (BTC) Spot ETFs Soared to Record Highs, Experts Predict $100K Is Just the Beginning

With five straight days of positive inflows, catalyzed by hopes of an increasingly friendly regulatory environment under President-elect Donald Trump, the total net asset value of Bitcoin Spot ETFs reached $107.488 billion for the first time.

Demand for spot Bitcoin exchange-traded funds hit its highest levels since their launch, with a total of $3.38 billion flowing into the funds this week. This marks a significant increase from the previous week's inflows of $490.35 million.

The inflows come amid anticipation of an improving regulatory environment for cryptocurrencies under President-elect Donald Trump and heightened optimism among traders as Bitcoin edges closer to hitting the highly anticipated six-figure price mark.

According to data from SoSoValue, the total net asset value of Bitcoin spot ETFs reached $107.488 billion for the first time. The highest inflows for the week were recorded on Nov. 21, with $1 billion flowing in — coinciding with the announcement of anti-crypto SEC Chair Gary Gensler's departure on Nov. 20.

Bitcoin rallied to a new all-time high of $99,800 less than a day after the news, but it failed to breach the highly anticipated $100,000 mark as inflows into the 12 spot BTC ETF offerings dipped to $490.35M on Friday, according to SoSoValue data.

However, the inflows managed to hit an all-time high of $3.38 billion. BlackRock’s IBIT led the day's activity with $513.2 million, as only half of the twelve funds managed to draw in capital.

Inflows into other funds were as follows:

Grayscale’s GBTC, which has the highest fees among the lot, was the only offering to record outflows of $67.05 million. The remaining funds saw no flows.

Despite the late-week dip in inflows, market pundits believe the overall demand for ETF products remains strong. Kadan Stadelmann, an early Bitcoin investor and chief technology officer at Komodo, attributes the recent upsurge in demand to the “supply shock” leading up to the 2024 Bitcoin halving and heightened “geopolitical uncertainties” that bolster demand for Bitcoin as a hedge.

This momentum is expected to catapult even higher after BTC breaks past $100,000, with TYMIO founder Georgii Verbitskii telling crypto.news that the milestone is likely to draw “renewed attention from mainstream media and traders alike.”

As of press time, Bitcoin was trading at $99,840, just 1.47% away from hitting six figures. Some market analysts predict that the milestone could be achieved well before 2024 ends.

Meanwhile, analysts like VanEck's Nathan Frankovitz and Matthew Sigel predict that prices could soar to $180,000 within the next 18 months, aligning with experts at Bernstein Research who recently raised their 2025 year-end target for BTC from $150,000 to $200,000.

In a recent report, Frankovitz and Sigel noted that BTC's current rally mirrors “the pattern from four years ago,” where Bitcoin doubled between the 2020 election and year-end, followed by an “additional ~137% gain in 2021.”

They added that the “next phase of the bull market is just beginning with no technical price resistance in sight.”

“With a transformative shift in government support for Bitcoin underway, investor interest is rising rapidly; we are receiving inbound calls at an accelerating pace as many investors find themselves under-allocated to the asset class. While we remain vigilant for signs of overheating, we reiterate our cycle price target of $180k per BTC as a number of key indicators we track continue to signal green for this rally.”

On X, analyst Ali Martinez offered a similar perspective, drawing parallels to previous cycles. He suggested that Bitcoin could climb to $108,000 in the coming weeks and rally to $135,000 by year-end. See below.