BlackRock Bitcoin ETF Volume Surges Amid Market Turmoil
With interest rates at a 23-year high, unfavorable economic data has triggered crisis in the stock market. The worries of an economic slowdown for the US has led to plummeting prices, and as many as five trading platforms going down entirely. Those concerns have spread throughout the cryptocurrency market.
BlackRock’s leading Spot Bitcoin ETF has seen its trading volume surpass $1.55 billion in the first hour alone. Last week, more than $250 million had left both Bitcoin and Ethereum ETFs prior to the market downturn. BlackRock’s product still holds more than $21 billion in net assets.
With interest rates at a 23-year high, unfavorable economic data has triggered crisis in the stock market. The worries of an economic slowdown for the US has led to plummeting prices, and as many as five trading platforms going down entirely. Those concerns have spread throughout the cryptocurrency market.
BlackRock’s leading Spot Bitcoin ETF has seen its trading volume surpass $1.55 billion in the first hour alone. Last week, more than $250 million had left both Bitcoin and Ethereum ETFs prior to the market downturn. BlackRock’s product still holds more than $21 billion in net assets.
blackrock bitcoin