BlackRock Bitcoin ETF (IBIT) recorded the highest daily trading activity since its debut, with total inflows reaching $621 million following Trump’s victory.
Following Donald Trump’s recent victory as the U.S. President, spot Bitcoin ETFs surged, reversing recent outflows.
BlackRock’s iShares Bitcoin Trust (IBIT) saw daily trading volumes soar to an impressive $4.1 billion, surpassing the volume of popular stocks such as Visa and Berkshire Hathaway on Wall Street.
BlackRock’s Bitcoin ETF Outpaces Berkshire and Visa
On November 6, the IBIT achieved a record trading volume of $4.1 billion, surpassing major stocks like Berkshire Hathaway, Netflix, and Visa on the same day.
Additionally, IBIT shares surged by 10%—marking its second-best performance since launch.
Bloomberg’s ETF strategist, Eric Balchunas, noted that this high volume could lead to more inflows soon, reflecting growing investor confidence in the fund.
On this record-setting day, nine U.S. Bitcoin ETFs collectively reached $6 billion in trading volume, marking their highest single-day performance since launching in January.
Balchunas described it as a “banger day” for the burgeoning ETF market, which continues to defy expectations.
Fidelity’s FBTC Leads Inflows
Fidelity’s Bitcoin ETF (FBTC) recorded the highest inflows, with more than $300 million, followed by Ark Invest’s ARKB at $127 million, Bitwise’s BITB at $100.9 million, and Grayscale’s mini ETF at over $100 million.
Although IBIT experienced high trading volumes, it still saw $68 million in outflows, according to Farside Investors.
These inflows could continue to grow as Donald Trump assumes office in January 2025.
Following Bitcoin’s all-time high yesterday, analysts anticipate a bullish future for BTC under Trump’s administration. Bitcoin strategist Dylan LeClair suggested,
“You have approximately three months until the U.S. Government puts into law active accumulation of bitcoin as a strategic reserve asset. Other sovereigns will be discreetly front running. The clock has already started.”
Nearly 20 hours after the election results, Bitcoin’s price has held above $75,000 as investors look forward to the upcoming FOMC meeting.
If the Fed opts for an additional 25-basis-point rate cut, Bitcoin could continue its upward trajectory, potentially reaching $100,000.
