Spot Bitcoin exchange-traded funds drew $1.2 billion in net inflows on Friday, setting a new daily record since the products launched in January 2024. The surge comes as investors continue to price in growing institutional demand and the market impact of Bitcoin’s latest halving cycle.

The strong flow of money into the funds underscores how quickly Bitcoin has moved from a fringe asset to a mainstream investment vehicle for some market participants. ETF wrappers have made it easier for institutions and retail investors alike to gain exposure without directly holding the cryptocurrency.

Friday’s inflow total marked the largest one-day tally for the product category so far, according to Reuters. The move also reflects renewed optimism that broader adoption could continue if large investors keep allocating to regulated Bitcoin products.

Still, the pace of inflows can shift quickly with market sentiment, price volatility, and macroeconomic conditions. Analysts will be watching whether the latest surge becomes a sustained trend or a short-lived burst of demand after the halving.