Bitcoin also hit a new record high above $126,000. BlackRock’s iShares Bitcoin Trust (IBIT) led the charge, and is now closing in on $100 billion in assets under management after attracting nearly $1 billion in a single day. The massive inflows prove just how institutional demand is driving this bull cycle. Meanwhile, US Senator Cynthia Lummis confirmed that funding for the country’s Strategic Bitcoin Reserve can “start anytime,” after President Trump’s approval earlier this year. While there are still a few legislative delays, growing speculation suggests that the US government could soon begin buying Bitcoin directly. Bitcoin ETFs Smash Records Spot Bitcoin exchange-traded funds (ETFs) in the United States recorded their second-largest daily inflows on Monday as Bitcoin surged to a new all-time high above $126,000. The 11 US-listed spot Bitcoin ETFs collectively drew in $1.18 billion in a single day, according to data from CoinGlass. This was the highest inflow since Nov. 7 of 2024, when the funds attracted $1.37 billion after Donald Trump’s election victory. The record-breaking inflows certainly proves that there is still an appetite among institutional investors for Bitcoin exposure through regulated financial products. Monday’s surge brought the total inflows for October to $3.47 billion across just four trading days. Since their inception earlier this year, spot Bitcoin ETFs amassed roughly $60 billion in total inflows, according to Bloomberg ETF analyst James Seyffart . This sheds some light on the huge role of institutional capital when it comes to driving this bull cycle. Leading the charge once again was BlackRock’s iShares Bitcoin Trust (IBIT), which captured a staggering $967 million of the total daily inflows. The fund now brought in $2.6 billion since the beginning of October. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $112 million, while the Bitwise Bitcoin ETF (BITB) and Grayscale’s Bitcoin Mini Trust (BTC) added $60 million and $30 million respectively. Smaller inflows were also seen across the offerings from Invesco, WisdomTree, and Franklin Templeton. IBIT’s growth has been especially impressive as the fund now holds approximately 783,767 BTC and is closing in on $100 billion in assets under management. According to Nate Geraci , president of ETF Store, IBIT’s milestone achievement will place it among an elite group of just 18 ETFs worldwide that have surpassed $100 billion in AUM. By comparison, the Vanguard S&P 500 ETF took over 2,000 days to reach that level, while IBIT is set to do it in fewer than 450 days. Bitcoin Reserve Funding Can Start Anytime Bitcoin is also picking up steam politically. US Senator Cynthia Lummis confirmed that the process of buying funds for the United States Strategic Bitcoin Reserve (SBR) could “start anytime,” though bureaucratic and legislative hurdles are still slowing progress. In a post on X , the Wyoming senator said that while the legislative process is still a “slog,” President Trump’s approval effectively cleared the path for the reserve’s funding to begin. Lummis made her comments in response to a discussion that was shared by ProCap BTC’s chief investment officer, Jeff Park, and Bitcoin advocate Anthony Pompliano, who explored the idea of leveraging the US government’s unrealized $1 trillion in gold gains to invest in Bitcoin. Park argued that using those gains would be a minimal risk compared to the government’s $37.88 trillion fiscal debt, and suggested that long-term Bitcoin appreciation could offset the deficit over time. Lummis praised the argument as a strong case for both the creation of the Strategic Bitcoin Reserve and the passage of the proposed BITCOIN Act. While the SBR’s framework is still being finalized, government documents indicate it will initially be funded using Bitcoin that is already owned by the US Treasury. More specifically , this includes assets seized through civil or criminal proceedings. Additional purchases may then be made through “budget-neutral avenues,” which means no additional taxpayer costs. President Donald Trump signed the executive order to create the Bitcoin reserve seven months ago, but specific details about its implementation and capital structure are still a bit unclear. Despite the lack of official timelines, speculation has been growing that the government could soon begin direct Bitcoin acquisitions. A few months ago, Pompliano told CNBC that the market is eagerly watching for a formal announcement of US Bitcoin purchases, and called the eventual buying phase the “main dish” of the initiative. The establishment of the SBR will be a historic step toward integrating Bitcoin into the nation’s strategic assets.
