BlackRock's spot Bitcoin Exchange-Traded Fund (ETF), IBIT, has shown promising early results, with a reported trading volume exceeding $2 million on its first day. This critical data was shared by Bloomberg ETF analyst Eric Balchunas via a tweet, suggesting the significant trading volume, particularly at such an early hour, might have been strategically planned by BlackRock.
Balchunas noted that this level of trading volume would generally reflect a successful full day's trading for a traditional ETF, indicating that the performance of IBIT is quite impressive. He further suggested that this heavy early-morning volume could represent a strategic move by BlackRock to gradually usher in the funds it had prepared for BYOA (Bring Your Own Assets).
