BlackRock Bitcoin ETF Breaks Volume Record as Bitcoin Rallies to $64K Before Plunging
BlackRock's bitcoin exchange-traded fund (ETF), IBIT, broke its volume record for the third consecutive day with nearly 87 million shares worth about $3 billion traded. This is double the previous day's record of $1.35 billion. At one point during the trading session, IBIT was the fourth most traded ETF in the U.S., and three other new bitcoin ETFs were in the top 20. The increased market activity coincided with bitcoin surpassing $60,000 for the first time since November 2021. Demand for bitcoin ETFs has been identified as a significant factor behind the price surge. Since their launch in January, the ten newly-listed spot ETFs have attracted over $6.7 billion in net inflows, with allocations to these ETFs surpassing $1 billion in two days.
