Summary
BlackRock’s bitcoin ETF IBIT saw $1 billion in trade volume, marking the second straight day of hitting this milestone. Despite dominating in volume, IBIT had the third highest net inflows on Monday. Other bitcoin ETFs like FBTC and ARKB also saw significant trading volumes. The Grayscale Bitcoin Trust ETF GBTC remains the largest spot bitcoin ETF, but has seen outflows in recent weeks. The surge in trading volume comes as BTC’s price has rallied above $57,000.
Key Points
1. BlackRock’s bitcoin ETF, the iShares Bitcoin Trust (IBIT), had a trading volume of $1 billion with two hours left in the trading day.
2. IBIT’s trading volume reached nearly 32 million shares, worth roughly $1.04 billion, by 2:30 pm ET.
3. This was the second consecutive day that BlackRock’s fund achieved a trading volume of $1 billion or more, with the previous day seeing nearly 42.5 million shares traded, worth approximately $1.3 billion.