BlackRock's Spot Bitcoin ETF Recorded $1.3B Daily Trading Volume, Breaking Monday's Record

BlackRock's Spot Bitcoin ETF Recorded $1.3B Daily Trading Volume, Breaking Monday's Record

Reported by Coindesk, BlackRock's spot bitcoin (BTC) exchange-traded fund (ETF) had another massive trading day Tuesday, recording over $1.3 billion in daily trading volume for the second consecutive day, fueled by bitcoin's rally to $57,000.

BlackRock's IBIT booked $1.357 billion in trading volume during the day, breaking Monday's record of $1.3 billion, Bloomberg Intelligence ETF analyst Eric Balchunas noted in an X post Tuesday afternoon at market close. Nearly 42 million shares changed hands, Nasdaq data showed, more than double of the average since it started trading in January.

IBIT was the fifth most-traded among all U.S.-listed ETFs during the morning hours, pseudonymous HODL15Capital noted in an X post, adding that Fidelity's bitcoin ETF (FBTC) also experienced "strong" trading volume.

While trading volume can sometimes indicate positive interest in an investment product, it might not always be the case as the metric looks at both buy and sell orders.

Source

Bitcoin

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