Bitcoin ETF Trading Volume Hits Record High, Approaching Gold ETF Asset Size; Musk’s Wealth Among Forbes' Top, U.S. Stock Market Remains Strong
On November 12, Bloomberg ETF analyst James Seyffart reported that U.S. spot Bitcoin ETFs recorded an exceptional trading volume of $7.22 billion, marking the highest level since March 14 and the sixth-largest trading day on record. BlackRock’s IBIT led with $4.6 billion, followed by Fidelity’s FBTC, which crossed the $1 billion threshold.
According to Bloomberg senior ETF analyst Eric Balchunas, assets under management for the U.S. spot Bitcoin ETF have surged to $84 billion, now approaching two-thirds of the asset size of gold ETFs. Balchunas noted that the growth rate of the Bitcoin ETF far exceeds previous estimates, suggesting that it could overtake gold ETFs in size within a year a target previously anticipated to take 3 to 4 years.
In related developments, MicroStrategy invested $2.03 billion yesterday, underscoring strong institutional interest. Additionally, Elon Musk continues to rank prominently on Forbes’ wealth list, while the U.S. stock market remains robust.