Bitcoin is riding a historic wave, with US exchange-traded funds (ETFs) linked to the cryptocurrency on track to shatter monthly inflow records. November has already seen a staggering $6.2 billion pour into Bitcoin ETFs, as investors cheer the digital asset's rapid ascent toward the $100,000 mark and President-elect Donald Trump’s newfound support for the crypto industry.

Major players like BlackRock and Fidelity Investments are leading the charge, with their ETFs driving investor enthusiasm. This influx eclipses the previous record of $6 billion set in February, a time when the crypto market was abuzz with excitement over the launch of these products.

Trump’s crypto-friendly stance marks a sharp departure from the current regulatory landscape. The former president has pledged to dismantle Biden-era restrictions on digital assets, appoint regulators supportive of the industry, and establish a US Bitcoin reserve. This shift has electrified the market, pushing Bitcoin to $96,400 as of Friday morning in London, just shy of the coveted $100,000 milestone.

“Under a Trump administration, we’re likely to see even greater ETF inflows as businesses and retirement funds embrace this asset class,” said Josh Gilbert, a market analyst at eToro.

The crypto surge isn’t limited to Bitcoin. Other digital assets, including Cardano (ADA) and Solana (SOL), are also drawing attention, though their price movements have been more subdued. Bitcoin’s stellar performance this year—more than doubling in value—has outpaced traditional assets like global stocks and gold.

This momentum builds on regulatory shifts that began in January when the Securities and Exchange Commission (SEC) reluctantly approved the first US spot-Bitcoin ETFs after a legal battle. Outgoing SEC Chair Gary Gensler, a vocal critic of the crypto sector, also approved ETFs for Ethereum (ETH), the second-largest cryptocurrency by market cap.

Trump’s expected appointment of a pro-crypto SEC head could further reshape the industry, potentially clearing the way for ETFs tied to other tokens. While Trump was once a skeptic of digital assets, his recent pivot reflects the sector’s growing influence, particularly as it invested heavily in lobbying efforts during the election campaign.

With Bitcoin leading the charge and regulatory winds shifting, the crypto market’s future looks poised for new heights. All eyes are now on whether the $100,000 barrier will fall—and what lies beyond for this booming sector.