BlackRock’s Bitcoin ETF Sees Record Trading Volumes
BlackRock’s Bitcoin exchange-traded fund (ETF) experienced a historic day of trading following the election of Donald Trump as the President of the United States.
On November 6, Bloomberg ETF analyst Eric Balchunas shared that the IBIT saw its highest ever daily trading volume of over $4.1 billion.
Balchunas noted that this volume was more than major stocks such as Berkshire, Netflix, and Visa saw on the same day, and the ETF also saw a 10% increase, its second best performance since its launch.
Other Bitcoin ETFs also saw significant trading and volume, comparable to the early days of the market in January.
This record-breaking day for IBIT occurred amidst a positive climate for Bitcoin, with the asset reaching a new all-time high of $76,500 following Trump’s election.
