BlackRock’s IBIT Leads with $1.3 Billion Trading Volume, Setting a New Single-Day Record for Bitcoin Spot ETF

BlackRock's IBIT Leads with $1.3 Billion Trading Volume, Setting a New Single-Day Record for Bitcoin Spot ETF

BlackRock's IBIT Leads with $1.3 Billion Trading Volume, Setting a New Single-Day Record for Bitcoin Spot ETF

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While a large amount of funds poured into Bitcoin spot ETFs, the price of Bitcoin today (27th) broke through the new high since early December 2021, reaching as high as $57,000 earlier. According to Eric Balchunas, a senior ETF analyst at Bloomberg, the total trading volume of the 9 newly launched US Bitcoin spot ETFs on Monday reached $2.4 billion, setting a new record for daily trading volume since their launch.

Source:
Eric Balchunas

Balchunas stated that the trading volume of Bitcoin spot ETFs yesterday was about twice the recent daily average trading volume. Among them, BlackRock’s Bitcoin spot ETF (ticker: IBIT) led the way with a trading volume of nearly $1.3 billion.

Balchunas also pointed out that when IBIT’s trading volume exceeded $1 billion earlier in the day, it ranked 11th (top 0.3%) among all ETFs and top 25 among stocks, which is “an amazing number for a newly launched ETF, especially one with 10 competitors.” He added:

Last week, Bloomberg reported that Carson Group, a registered investment advisory platform with assets under management of $30 billion, approved four Bitcoin spot ETFs for its clients, including IBIT, Fidelity’s FBTC, Franklin Templeton’s EZBC, and Bitwise’s BITB. These products will be offered to financial advisors using Carson Group services.

Data released by digital asset management company CoinShares on Monday showed that the net inflow of funds into digital asset investment products last week reached $598 million, marking four consecutive weeks of net inflows. The net inflow since the beginning of the year has surpassed $5.7 billion.

Source:
CoinShares
Data source