The iShares Bitcoin Trust fund records unprecedented trading volumes, surpassing giants like Berkshire and Netflix.
On November 6, following the election of the new President of the United States, Donald Trump, BlackRock’s Bitcoin ETF recorded unprecedented trading volume, reaching a record $4.1 billion in a single trading session. In just the first 20 minutes of trading, IBIT saw over $1 billion in volume.
Bloomberg analyst Eric Balchunas highlighted that these volumes surpassed those of stock market giants like Berkshire Hathaway, Netflix, and Visa on the same trading day.
The success was not limited to IBIT alone: the majority of the 12 Bitcoin ETFs reported trading volumes double their daily average, with total trading volume reaching $6 billion. On the same day, Bitcoin’s price hit a new all-time high of $76,500.
2024 is proving to be a record-breaking year for spot Bitcoin ETFs, which hold five positions in the top 10 most successful launches, as confirmed by Nate Geraci, president of ETF Store.
