Bitcoin Soars Pass $118,000 as ETF Inflows Hit $15B and BlackRock’s IBIT Shatters AUM Records

Altcoin Breakouts, Institutional Buying, and ETF Momentum Drive Crypto Price Surge

Bitcoin surged to a new all-time high of $118,909 on Coinbase on the morning of July 11, fueled by relentless institutional buying and historic inflows into U.S.-listed spot Bitcoin ETFs. The crypto price climbed 6.3% over the previous 24 hours, breaking out from a prolonged two-month stretch of sideways movement. By the time of publication, Bitcoin was trading just under that peak at $118,018, holding a 0.18% gain on the day. Altcoins joined the initial rally, with Ethereum jumping 8% to cross $3,000 and XRP spiking 8% to over $2.60. Renewed optimism around ETF approvals for Solana and Ripple helped spark broader coin market cap growth, with both assets breaking through key technical resistance levels.

The spot Bitcoin ETF landscape has become a defining feature of the 2025 bull cycle. Net inflows into U.S.-listed spot Bitcoin ETFs reached $15 billion over the past two months, as institutional allocations continue to climb. On July 10 alone, the products attracted $1.18 billion in fresh inflows—the second-largest daily intake since their launch in January 2024. 

Total assets across all U.S. spot Bitcoin ETFs surpassed $140 billion for the first time, according to Bloomberg’s Eric Balchunas, who noted that while $1 billion poured in overnight, the upward move in crypto price accounted for most of the rise in assets. Leading the charge, BlackRock’s iShares Bitcoin Trust (IBIT) became the fastest ETF in history to reach $80 billion in AUM, hitting that milestone in just 374 days—five times faster than the previous record set by Vanguard’s S&P 500 ETF, which took 1,814 days.

IBIT’s pace underscores the increasing influence of ETFs in the crypto market, with BlackRock’s fund widely seen as the anchor product driving institutional flows. “They took in over $1B last night but it was really the big move up in price that is doing most of the heavy lifting here,” Balchunas said. Algoz’s Stephen Wundke noted that “institutions have kept buying BTC ETFs,” adding that traders without exposure are now scrambling to get in, adding fuel to the upward price momentum. He also attributed the recent surge to softer inflation expectations globally and a fresh wave of corporate treasury interest in Bitcoin. “History shows us when BTC breaks new highs and holds, there’s been a circa 20% uplift in the next 60 days,” Wundke said, suggesting a short-term target of $125,000 if inflation remains muted.

The bullish momentum is supported by a shift in corporate strategy and easier institutional access. “We’re seeing more companies, following Strategy’s lead, incorporate bitcoin into their strategic asset allocation,” said Min Jung of Presto Research. According to Jung, the ETF approvals in January opened the door to broader participation, helping to drive Bitcoin past previous resistance. The week of July 8 already saw Bitcoin briefly touch $112,152 before continuing its ascent, signaling strong technical demand. Analysts from Nansen also pointed to dovish U.S. policy expectations as a tailwind supporting sentiment across the crypto price index.

Ajay Dhingra, head of research at Unizen, highlighted that Bitcoin’s breakout comes during a relatively calm geopolitical window but warned that volatility may return. He flagged upcoming U.S. GDP and inflation data—especially amid ongoing tensions in the Middle East and tariff discussions—as potential catalysts for market disruption. “This rally may not hold if that calm gives way to fresh volatility,” he cautioned. Two key dates are circled on traders’ calendars: July 15, when the latest U.S. inflation report drops, and July 25, the expiration of a major Bitcoin options tranche. Both events are expected to shape near-term direction, either reinforcing the rally or sparking a cooldown.

Momentum is also building in the altcoin sector. Ethereum and XRP led gains with 8% increases, while traders speculated that ETF approvals for other major coins could be on the horizon. Solana and Ripple’s recent technical breakouts have added to optimism around the sector’s expansion. Analysts tied the altcoin strength to the same macro and ETF-driven dynamics pushing Bitcoin to new highs, with Ethereum and XRP seeing the biggest spillover effects.

This article has been refined and enhanced by ChatGPT.