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

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The Block2024/11/10 16:00

By:The Block

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.

BlackRock bitcoin ETF hits new daily volume record as BTC pierces $88,000 image 0

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.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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