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BlackRock’s Bitcoin ETF Hits Record Volume

IBIT smashes records as BTC pushes to higher highs.
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Nov 12, 2024 • 1 min read

As Bitcoin's price surge continues, BlackRock’s Bitcoin ETF is seeing significant attention from investors, blowing through volume records yesterday.

What’s the Scoop?

  • Record Volume: BlackRock’s spot Bitcoin ETF generated an impressive $4.5 billion in trading volume on Monday, marking a new high.
  • Bitcoin’s Price Surge: Since last week's election results, Bitcoin has continued to rally, reaching new all-time highs and approaching the $90,000 mark.

Bankless Take:

A key driver of Bitcoin’s appeal is former President Trump’s favorable stance on the crypto space. While no concrete action has been taken, his outlook has increased investor confidence. Additionally, concerns over inflation are prompting investors to seek assets that may preserve value, with Bitcoin seen as a strong alternative. BlackRock’s ETF offers an on-ramp for those interested in the crypto ecosystem, making it easier than ever to explore and invest in this evolving space.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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