Institutional Demand Boosts Bitcoin to Record High

Bitcoin's price surge above $87,000 on Monday was accompanied by significant institutional demand for spot ETFs. U.S. Bitcoin ETF inflows reached a record-breaking $998.95 million, their strongest performance in 11 months.

The influx of funds into BlackRock's IBIT led the charge with $381.4 million, followed closely by Ark and 21Shares' ARKB with $289.1 million. Fidelity's FBTC recorded $238.8 million, while Grayscale, Bitwise, and Morgan Stanley also posted positive flows.

Bitcoin's move above $87,000 was seen as a key technical level that had previously limited its recovery. Min Jung of Presto Research attributed the price surge to stronger risk appetite, spot ETF demand, and extensive short covering.