Bitcoin Rockets Past $93K, Surpasses Saudi Aramco in Global Market Cap Rankings as ETFs See Explosive Growth
Bitcoin (BTC) has reached historic milestones, climbing to over $93,000 and surpassing Saudi Aramco to become the world’s seventh-largest asset by market capitalization. The cryptocurrency’s dominance in the market hit 61.38%, reflecting its growing role as a cornerstone in the financial ecosystem.
ETF Inflows Propel Price Surge
A significant driver behind bitcoin’s ascent is the massive inflows into U.S. spot-listed exchange-traded funds (ETFs). Over the past six trading days, these ETFs have seen net inflows of $4.7 billion, with $510.1 million recorded on Wednesday alone. Total inflows for the year have now surged to $28.2 billion, signaling robust institutional interest.
BlackRock’s iShares Bitcoin Trust (IBIT) continues to dominate the ETF landscape, achieving $5 billion in daily trading volume for the first time. Bloomberg’s Eric Balchunas highlighted this milestone:
“IBIT just hit $5 billion in volume today, ranking among the most traded financial products globally. The appetite for spot bitcoin exposure is unparalleled.”
Political Winds Favor Bitcoin
The rally is further fueled by optimism surrounding regulatory clarity, driven by U.S. President-elect Donald Trump’s pro-crypto stance and the Republican-controlled House. These developments are fostering confidence among institutional investors in the future of digital assets.
Broader Market Impact
Bitcoin’s momentum has ignited activity across the crypto market. Ethereum (ETH) spot ETFs experienced inflows of $146.9 million on Nov. 14, pushing their total for the year to $241.7 million, according to Farside data.
Analysts See Spot-Led Momentum
Analysts attribute the rally to strong spot demand rather than futures-based speculation. Checkmate, a market analyst, noted:
“ETF inflows are soaking up long-term holder selling, making this rally primarily spot-driven. It’s a sustainable bullish setup.”
Road to Six Figures
With bitcoin breaking records and institutional demand growing exponentially, the $100,000 milestone appears increasingly attainable. As regulatory clarity improves and ETFs continue to draw capital, bitcoin’s trajectory signals a new era of mainstream adoption and market dominance.
