Spot Bitcoin funds took in $731 million on Thursday, their largest single-day haul since January, with every fund in the complex rising almost 6% and total net assets crossing $103 billion for the first time. BlackRock's IBIT accounted for well over half the money. Coming days after a month that reversed the year's outflows, the figure lands as the strongest evidence yet that spot demand is doing real work rather than just tracking short liquidations.