BlackRock’s iShares Bitcoin Trust (IBIT) has set a new record for its largest single daily inflow since it was listed in January as demand for U.S. spot Bitcoin exchange-traded funds experience surging trading activity amid heightened investor interest.

IBIT pulled in a total of $1.12 billion on Thursday, beating out its prior October 30 record of $872 million, on Wednesday, vastly exceeding its nearest rival, Fidelity, after President-elect Donald Trump secured a second term as the 47th president of the United States.

Trump’s Whitehouse win is viewed by many in the industry as a boon for digital assets. He has promised to protect crypto mining interests, establish a Bitcoin reserve, and usher in favorable policy.

The ascent of IBIT as a top Bitcoin ETF comes amid shifting sentiment over investments in institutionalized crypto. The fund has maintained steady inflows since inception, while competitor Grayscale’s GBTC—the second largest by net assets at $16.8 billion—has faced negative outflows due to its high fees.

BlackRock charges a 0.25% fee, waived until January, while GBTC charges significantly higher at 1.5%. Fidelity’s FBTC, meanwhile, also charges 0.25%, though its waiver ended in July.

Edited by Sebastian Sinclair

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Author: Vince Dioquino