BlackRock bitcoin ETF hits new daily volume record as BTC pierces $88,000

Markets • November 11, 2024, 5:17PM EST
Published 1 minute earlier on
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Quick Take

  • With bitcoin soaring past $88,000 for the first time, BlackRock’s spot BTC exchange-traded fund hit a new daily trading volume record.
  • BlackRock’s spot bitcoin ETF generated $4.5 billion in daily trading volume on Monday.

With bitcoin soaring past $88,000 for the first time on Monday, BlackRock's spot BTC exchange-traded fund set a new daily trading volume record, according to Bloomberg Senior ETF Analyst Eric Balchunas.

BlackRock's spot bitcoin ETF generated $4.5 billion in daily trading volume, according to Balchunas, who posted the results on X.

As the price of bitcoin continues to rise in the wake of Donald Trump's victory in the U.S. presidential election, the entire crypto market is on the uptick. Both spot bitcoin ETFs and crypto-related companies, such as MicroStrategy, are seeing their prospects and share prices improve.

Last week, days after Trump's win, BlackRock’s spot bitcoin ETF raked in over $1.1 billion in net inflows, marking its new record amount of single-day inflows.

 

 


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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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