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BlackRock's Spot Bitcoin ETF Sets Record-Breaking Volume

BlackRock’s IBIT saw $4 billion in trading volume on Election Day.
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Nov 7, 2024 • 1 min read

With renewed optimism about Trump’s crypto-friendly stance, investors are eyeing Bitcoin’s future with new-found enthusiasm.

What’s the Scoop?

  • Record-Breaking Volumes: On election day, BlackRock’s spot Bitcoin ETF saw an astonishing $4 billion in trading volume, mainly from heightened interest from investors.
  • Crypto-Friendly Hopes: With anticipation that Trump might foster a more crypto-friendly regulatory environment, enthusiasm for Bitcoin is gaining momentum.

Bankless Take:

While Trump has voiced support for crypto, the president-elect still has months before taking office and enacting any changes. Many in the crypto space are awaiting Gary Gensler’s potential removal and clearer regulatory guidelines. But let’s keep in mind that past presidential campaigns have made bold promises that didn’t always translate into imeediate action. The crypto community remains hopeful, but cautious.

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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