Bitcoin reaches a market capitalization of $1.762 trillion, while spot ETFs surpass $7 billion in daily trading volume.
On November 11, Bitcoin surpassed silver to become the eighth largest asset in the world by market capitalization. This milestone followed significant growth, pushing its price above $89,000, with a daily increase of 11.3%.
Currently, Bitcoin is surpassed only by assets like gold and companies such as Nvidia, Apple, Microsoft, Google, Amazon, and Saudi Aramco.
Records set for ETFs
One of the main drivers of Bitcoin’s price surge has been interest from institutional investors. Spot ETFs, launched in January, have attracted nearly $27 billion in inflows so far.
During yesterday’s trading session, BlackRock’s iShares Bitcoin Trust (IBIT) recorded a trading volume of $4.65 billion, surpassing last week’s previous record. As noted by analyst Eric Balchunas, Bitcoin-related financial assets (spot ETFs, Coinbase, and MicroStrategy stocks) reached a total trading volume of $38 billion, setting an all-time record.
Meanwhile, MicroStrategy announced it had increased its investment in Bitcoin, bringing its total holdings to 279,420 BTC, valued at approximately $24.8 billion.
