Spot bitcoin exchange-traded funds in the United States attracted $1.2 billion in a single day, marking their largest daily inflow since April, according to Reuters. The buying wave helped push bitcoin above $109,800 as investors continued to add exposure through regulated funds.

The inflows went into products managed by major firms including BlackRock, Fidelity and ARK Invest. The surge suggests institutional demand remains strong even as bitcoin approaches the psychologically important $110,000 level.

The latest move adds to a broader rally that has kept bitcoin near record territory this year. Analysts have pointed to steady ETF demand as a key support for prices, giving traditional investors a simpler way to access the cryptocurrency market.

While the momentum reflects confidence in bitcoin’s outlook, the market remains volatile. Large daily flows can amplify gains and reversals, especially when price action is concentrated around major round-number levels.