Record capital flows have poured into Bitcoin exchange-traded funds (ETFs) in the US, reflecting a surge in investor interest and establishing Bitcoin ETFs as a serious competitor to traditional investments like gold. These inflows are being driven by both institutional and individual investors seeking exposure to this digital asset class, which has profound implications for the broader market. The initial influx of US$1.2 billion into Bitcoin ETFs during the week, primarily fueled by BlackRock’s significant contribution, was followed by another substantial inflow on Tuesday, reaching US$875.6 million despite some outflows from Grayscale’s GBTC product. This surge aligns with Bitcoin’s price nearing its all-time high.