Bitcoin Funds Pull In Money at Record Pace

Bitcoin exchange-traded funds have been a smash hit, helping feed into a frenzy that has sent the cryptocurrency’s price toward a record high.  

Investors have piled into the funds at a historic clip since their Jan. 11 launch, with total assets in the 10 U.S. spot bitcoin funds on the market swelling to nearly $50 billion.

BlackRock’s BLK 2.41% increase, iShares Bitcoin Trust IBIT 7.39% increase, eclipsed $10 billion in assets Thursday, the fastest a new ETF has ever reached that milestone. Fidelity’s fund, now with more than $6 billion in assets, is already the asset manager’s third-largest ETF...