BlackRock’s iShares Bitcoin Trust (IBIT) noticed unprecedented trading volume following Donald Trump’s U.S. Presidential election victory, with day-by-day extent exceeding $4.1 billion on Nov. 6.
According to Bloomberg ETF analyst Eric Balchunas, this marked IBIT’s largest trading day considering its launch, eclipsing volumes of primary stocks like Berkshire Hathaway, Netflix, and Visa. Balchunas brought that IBIT’s buying and selling surge additionally noticed a 10% price rise, making it the fund’s 2nd-first-rate day to date.
Other Bitcoin ETFs additionally recorded first-rate gains, with day-by-day volumes doubling their average amid a wave of optimism around Bitcoin’s destiny. Bitcoin itself reached an all-time excessive of $76,500 on Nov. 6, only a day after the seasoned crypto Trump clinched the presidential race. The rate later dipped barely to $75,267, in keeping with TradingView. Read Article
