#2024WithBinance The BlackRock iShares Bitcoin ETF (IBIT) acquired a record 12,600 BTC worth over $778 million in a single day.
Bitcoin's price briefly hit a new all-time high of $69,000 before plunging over 10%.
Trading volumes for the IBIT surged to more than 107 million shares, equivalent to over $3.6 billion, setting a new record.
The BlackRock iShares Bitcoin ETF (IBIT) witnessed an unprecedented accumulation of Bitcoin (BTC) on Tuesday, securing over $778 million worth of the cryptocurrency. This substantial acquisition consisted of 12,600 BTC, setting a new record for daily acquisitions by the fund, which previously peaked at around 10,000 Bitcoin. The transaction occurred amidst a volatile market session, where Bitcoin prices experienced a significant fluctuation.
According to data from Nasdaq, the ETF’s trading volumes surged to more than 107 million shares, translating to over $3.6 billion price-weighted. This volume surpasses the prior record of $3.3 billion set last week, emphasizing the growing investor interest in Bitcoin and related financial products. The ETF’s robust activity coincided with Bitcoin’s price dynamics, where it momentarily reached a new all-time high of $69,000 before experiencing a sharp decline.
BlackRock Closes Gap on MicroStrategy’s Bitcoin Holdings
The swift reversal in Bitcoin’s value saw a more than 10% drop to below $60,000, only for it to recover modestly to the $63,000 range by the end of the trading day in the U.S. Despite these market gyrations, the BlackRock iShares Bitcoin ETF continued to attract significant investment, underscoring the fund’s appeal among investors looking to capitalize on the dip in Bitcoin prices. The fund now boasts holdings of more than 183,000 Bitcoin, closely trailing MicroStrategy’s (MSTR) accumulation of 193,000 Bitcoin.