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BlackRock Bitcoin ETF Trading Volume Reaches Record High

BlackRock Bitcoin ETF Trading Volume Reaches Record High

HappyCoinNewsHappyCoinNews2024/11/07 18:22
By:HappyCoinNews

On November 6, during the rise in the Bitcoin exchange rate, the trading volume of BTC- ETF from BlackRock reached a record high.

IBIT [iShares Bitcoin Trust] set a record for trading volume, reaching $4,1 billion in a single day… For context, that’s more than the value of shares traded by companies like Berkshire, Netflix, and Visa.

 

The derivative's shares also increased in value by 10%, the second highest since the fund was launched [in January 2024], said analyst ETF Eric Balchunas.

BlackRock Bitcoin ETF Trading Volume Reaches Record High image 0

Change in trading volume of iShares units Bitcoin Trust

On Wednesday, the total trading volume of US stocks bitcoin ETF also rose to an all-time high of $6 billion, as the value of shares sold in most derivatives doubled their average, with IBIT accounting for more than two-thirds of the funds' units purchased.

November 6 issuers bitcoin ETF fixed capital inflow of $621,9 million. In exchange for the issued shares, companies are buying on the BTC market, so the growth in the level of capitalization of funds spurred an upward movement in the cryptocurrency market, during which the coin rate updated the record level at $76. But then a correction began, as a result of which the digital asset fell in price by 485%.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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