The crypto giant’s latest price surge is fueling a wave of demand and trading activity across U.S. spot exchange-traded funds.
Bitcoin ETFs recorded $1.18 billion in inflows on July 10, 2025, according to SoSoValue data. The numbers marked the funds’ sixth consecutive day of positive flows and the largest single-day inflow in months, a level last seen in November 2024.
Among the top performers was BlackRock’s IBIT, which once again led the charge with approximately $448.5 million. Fidelity’s FBTC followed closely with $324.34 million, and Ark 21Shares with $268.7 million.
Other issuers, including Bitwise, VanEck, and Valkyrie, saw smaller inflows under $100 million, while Grayscale’s GBTC moved the opposite way, logging $40.2 million in outflows.
IBIT also led all 12 spot Bitcoin ETFs in trading activity by a wide margin, pulling in $5 billion in volume, twice its daily average and up from $3.5 billion the day before.
The strong influx of funds came alongside fresh momentum in Bitcoin’s price. On the same day, BTC (BTC) extended the upward trend it kicked off earlier in the week, shattering multiple all-time highs.
Trading over $118,100 at the time of writing, the crypto market giant is up roughly 6.3% in the past 24 hours, sharpening positive investor sentiment. But what’s driving the surge?
Why Bitcoin is climbing
The bullish setup in BTC is powered by a mix of rising institutional interest and supportive macro conditions, reversing the bearish mood that earlier gripped the markets.
More financial institutions are betting on Bitcoin’s long-term reserve value. Q2 saw over 159,100 BTC purchased across 125 public companies, which now collectively hold 847,000 bitcoins, worth just under $100 billion at current prices. Like the ETFs, these institutional inflows provide more stable momentum for Bitcoin’s performance than traditional rally drivers like retail interest and market hype.
Macro economic backdrop is contributing to the rally. The U.S. economy is showing unexpected strength, with June nonfarm payrolls adding 147,000 jobs and the unemployment rate falling to 4.1%. This data prompted traders to rethink the pace of Fed rate cuts, with odds of a July cut dropping to just 5%, down sharply from 24% earlier in the week, per CME FedWatch.
Bitcoin’s rally also coincides with a rising stock market. The Dow Jones rose 270 points, or 0.61%, while the S&P 500 climbed 0.28%, signaling broader risk appetite across markets.
Analysts expect the current trend to continue and forecast that the combination of positive factors will establish a stronger foothold above $118K. According to Bitwise CIO Matt Hougan, the current move is likely just an “interim high,” echoing broader market predictions that see Bitcoin on a path toward $200,000.
