The price of Bitcoin (BTC) surged by 7% in the last 24 hours, reaching $92,844. This significant gain is attributed to increased trading volume of over $86.22 billion and a reversal of Vanguard’s longstanding ban on Bitcoin ETFs, opening up access to these products for millions of conservative investors. Analyst Eric Balchunas referred to this as the “Vanguard Effect,” noting that Bitcoin saw an immediate jump of 6% upon the US market opening on the first day of trading for ETF-backed investments. He further emphasized the significant trading volume of BlackRock’s IBIT spot Bitcoin ETF, which recorded around $1 billion in volume within the first 30 minutes of trading. 86.22 billion USD traded on that very day. This surge in ETF demand is fueled by US spot Bitcoin funds shifting from net outflows to inflows. This comes after a difficult November marked by redemptions exceeding $4.3 billion, but recent daily prints show the beginning of positive flows returning to key products like IBIT and FBTC. 86.22 billion USD traded on that very day.