US-based spot Bitcoin ETFs experienced their second-highest day of inflows ever, totaling $1.18 billion, following Bitcoin’s record high. In October, these ETFs received $3.47 billion in just four days, accumulating $60 billion since their launch. Institutional investors are driving the market, with BlackRock’s IBIT leading with $967 million inflow.

The BlackRock iShares Bitcoin Trust (IBIT) received the most inflows at $967 million, nearing $2.6 billion in October. Fidelity’s FBTC saw $112 million, Bitwise’s BITB $60 million, and Grayscale’s BTC $30 million. IBIT is close to hitting $100 billion in assets under management, observed Nate Geraci, with $98.5 billion AUM and 783,767 BTC.

The BlackRock Bitcoin ETF is close to reaching $100 billion in assets under management, holding an AUM of almost $98.5 billion and 783,767 BTC. IBIT is on track to hit this milestone in under 450 days, faster than the Vanguard S&P 500 ETF. Currently, spot BTC ETF assets under management total $168 billion.

Read more at Cointelegraph: Bitcoin ETFs See $1.18B Inflows As BTC Hits Record High