In the wake of the crypto rally, the Exchange-Traded Funds (ETF) on spot Bitcoin in the USA are also recording volumes exceeding 7 billion dollars. Leading the way is BlackRock with its IBIT, which has recorded a trading volume of nearly 5 billion dollars.
Bitcoin Exchange-Traded Fund: record volumes exceeding $7 billion
The sector of Exchange-Traded Fund (ETF) on US spot Bitcoin also seems to ride the wave of the crypto rally.
In fact, according to Bloomberg ETF analyst James Seyffart, on November 11, the total daily volume exceeded 7 billion dollars, making it the sixth highest day ever.
Massive $7.22 billion trading day for the US spot #Bitcoin ETFs. Highest volume day since March 14. And the 6th highest day of all time.
BlackRock's $IBIT lead the way with $4.6 billion followed by Fidelity's $FBTC also squeaking past the $1 billion level https://t.co/1ThfMBz2PD pic.twitter.com/erjYvRe9Ph
— James Seyffart (@JSeyff) November 11, 2024
“Massive trading day of 7.22 billion dollars for US Bitcoin ETFs. The day with the highest volume since March 14. And the 6th highest day of all time. BlackRock $IBIT leads with 4.6 billion dollars, followed by Fidelity $FBTC, which also surpasses one billion dollars.”
In practice, it seems that the institutional appetite for Bitcoin continues to grow, given that the spot BTC ETFs in the USA have recorded the largest trading day in over 7 months.
Not only that, Eric Balchunas, also an ETF analyst at Bloomberg, stated that the Exchange-Traded Funds on US spot Bitcoin are on track to surpass gold ETFs. This “on track” has been calculated to be 72%.
Bitcoin ETFs have crossed $90b in assets, after yesterday's $6b jump ($1b in flows $5b in mkt appreciation).. they now 72% of the way to passing gold ETFs in assets. pic.twitter.com/7I3TMC8CfZ
— Eric Balchunas (@EricBalchunas) November 12, 2024
“Bitcoin ETFs have surpassed 90 billion dollars in assets, after yesterday’s jump of 6 billion dollars (1 billion dollars in flows, 5 billion dollars in market appreciation)… they are now 72% of the way to surpassing gold ETFs in terms of assets.”
Bitcoin Exchange-Traded Fund: BlackRock is leading with a new all-time record
At the top of the spot Bitcoin ETF ranking is BlackRock’s IBIT, which, yesterday, recorded its all-time record: a volume of 5 billion dollars.
JUST IN: BlackRock's spot #Bitcoin ETF recorded $5 billion in volume today for the first time ever.
— Watcher.Guru (@WatcherGuru) November 13, 2024
“JUST IN: BlackRock’s spot #Bitcoin ETF recorded a volume of 5 billion dollars today for the first time ever.”
Farside Investor also reports that it is a great period for BlackRock’s Bitcoin ETF in terms of inflows. In the last 4 trading days, IBIT recorded 2.86 billion dollars in inflows.
Not a bad four day period for Blackrock ($IBIT)
US$2.86 billion of inflow in the last four trading dayshttps://t.co/04S8jMGl07 pic.twitter.com/fxraQiITvc
— Farside Investors (@FarsideUK) November 13, 2024
“Four days not bad for Blackrock ($IBIT) 2.86 billion dollars of inflows in the last four trading days”
The price of BTC and its ATH
The record volumes recorded by the spot Bitcoin ETFs leverage the new all-time highs that the leader of the crypto continues to register.
In fact, at the time of writing BTC is worth $91,000, recording its all-time high or All-Time High (ATH) above $93,000 in the last 24 hours.
In reality, what is happening is that the price of BTC has marked seven ATH in seven days.
In any case, in general, the current price of BTC is in a pump of +21% compared to a week ago.
