BlackRock’s Spot Bitcoin ETF Trading Volume Hits Record $4.5 Billion

On November 11, the iShares Bitcoin Trust ETF by BlackRock reached a historic trading volume of $4.5 billion. Bloomberg analyst Eric Balchunas highlighted this milestone.

The Bitcoin Industrial Complex (ETFs + MSTR, COIN) saw $38b in trading volume today, lifetime records being set all over the place, incl $IBIT which did $4.5b, which points to a robust week of inflows. Just an insane day, it really deserves a name a la Volmageddon pic.twitter.com/rcOLs0MhNF

— Eric Balchunas (@EricBalchunas) November 11, 2024

The previous record was $4.14 billion, which preceded a historic inflow of $1.12 billion into the product (and $1.38 billion into the sector overall).

The expert noted that a repeat of this situation could be expected.

According to Balchunas’s calculations, the total trading volume of bitcoin-related instruments amounted to $38 billion.

“Just an insane day, it really deserves a name a la ‘Volmageddon’,” he commented.

This occurred against the backdrop of the ongoing rally of the leading cryptocurrency, reaching a new ATH near $89,000.

On November 11, inflows into spot bitcoin ETFs amounted to $357.6 million, with a record trading volume of $7.3 billion.

Cumulative inflows since the approval of BTC-ETFs in January have increased to $26.2 billion.

Earlier, Bernstein predicted that if Donald Trump wins the US presidential election, bitcoin could reach $80,000-90,000.

Previously, the company’s specialists urged investors to add crypto assets to their portfolios as soon as possible. They recommended acquiring a basket of digital assets, including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE, and LINK.