When the price of BTC approaches $100,000, the Bitcoin ETF will take $1 billion

Bitcoin exchange-traded funds (ETFs) hit the $1 billion mark yesterday. The price of Bitcoin Reached the $100,000 milestone for the first time in volatile trading conditions.

The big gain comes after BlackRock's spot trading options Bitcoin ETF launched on November 19, following the Securities and Exchange Commission's (SEC) approval of a list of spot bitcoin ETFs options last month.

Blackrock's iShares Bitcoin Trust (IBIT) yesterday attracted the largest share of any fund of the year. As of November 21, more than $608 million in revenue has been reported, according to data from Farside Investors.

Fidelity Wise Origin Bitcoin Fund (FBTC), meanwhile, attracted more than $301 million in new funds, while Bitwise's Bitwise Bitcoin ETF (BITB) fund attracted $68 million.

Despite the all-time high, yesterday's ETF returns are still a far cry from those recorded on November 8, when Donald Trump's election was imminent and widespread speculation about the impact of a pro-crypto US government.

BlackRock IBIT raised a total of $1.12 billion on Nov. 7, matching its record $872 million prior to Oct. 30, according to data from Soso Value.

Trump has promised to protect the interests of crypto mining, fire inspectors such as Security and Exchange Commission (SEC) Gary Gensler (who has since announced his resignation), and even promised to establish a US strategic Bitcoin reserve.

The news of record earnings comes at a time when Bitcoin ETFs are becoming one of the main avenues. Bitcoin already taken.

Bloomberg ETF analyst Eric Balchunas highlighted on Twitter how the US Bitcoin ETF hit $100 billion in assets on November 22nd.

This means that Bitcoin EFTs now account for a large portion of the total Bitcoin held by anonymous Bitcoin creator Satoshi Nakamoto and represent 82% of the total value of gold EFTs.

However, the rosy investor sentiment of Bitcoin ETFs doesn't seem to have carried over to Ethereum ETFs. According to Farside Investors, Ethereum ETFs have recorded consecutive daily outflows since November 14, bleeding $7 million on November 21.