Massive Day For BlackRock’s Bitcoin ETF As Trading Volume Reaches Unseen Levels With $4.1 Billion Traded
On Nov. 6, BlackRock’s iShares Bitcoin Trust (IBIT) achieved an unprecedented trading milestone, with volume spiking to $4.1 billion in a single day – its highest ever. This surge, following Donald Trump’s reelection as President of the United States, signals a potent wave of institutional and potentially retail interest in cryptocurrency ETFs.
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Bloomberg ETF analyst Eric Balchunas noted on X (formerly Twitter) that this massive trading volume exceeded that of established stocks like Berkshire Hathaway, Netflix and Visa, making it an extraordinary day for Bitcoin on the ETF front. To add perspective, many Bitcoin ETFs also saw a significant uptick, trading at nearly twice their typical volume. This is reminiscent of Bitcoin ETFs’ highly volatile early days in January.
Analysts attribute this remarkable performance to a mix of factors, including Bitcoin’s price momentum, which saw the asset climb to a …
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