Key Takeaways
- BlackRock's iShares Bitcoin Trust (IBIT) achieves a record $4.1 billion daily trading volume on Election Day.
- The 12 spot bitcoin ETFs collectively reached a significant $6 billion trading volume, marking the highest single-day total since March.
- ETF Analyst Eric Balchunas notes that IBIT’s Election Day volume surpassed major stocks like Berkshire, Netflix and Visa.
Record-Breaking Trading Volume for BlackRock’s iShares Bitcoin Trust on Election Day
On U.S. presidential election day, BlackRock’s iShares Bitcoin Trust (IBIT) saw an unprecedented $4.1 billion in daily trading volume.
The record-breaking activity coincides with pro-crypto Republican candidate Donald Trump reclaiming the White House, potentially fueling enthusiasm for bitcoin.
The combined trading volume across 12 spot bitcoin ETFs reached $6 billion on election day, the highest total since March.
Most bitcoin ETFs saw trading volumes doubling compared to their usual figures.
BlackRock's ETF Volume Surpasses Major Stocks
According to Bloomberg ETF Analyst Eric Balchunas, IBIT's trading volume on election day outpaced major stocks like Berkshire Hathaway, Netflix, and Visa.
'Most of the ETFs did 2x their average', Balchunas said.
The significant trading volume is a notable milestone for the relatively new category of spot bitcoin ETFs.
