BlackRock Spot Bitcoin ETF Trades over $1 Billion So Far Today In New Milestone

BlackRock Spot Bitcoin ETF Trades over $1 Billion So Far Today In New Milestone
[[{"value":"

In a significant milestone for spot Bitcoin exchange-traded funds (ETFs), BlackRock's spot Bitcoin ETF has recorded over $1 billion in trades today alone, according to Bloomberg Senior ETF Analyst Eric Balchunas. This achievement underscores the growing demand for Bitcoin investment products and highlights the increasing acceptance of Bitcoin within traditional finance.

MILESTONE $IBIT has traded $1b worth of shares today so far.. which ranks it 11th among all ETFs (Top 0.3%) and Top 25 among stocks. Insane number for newbie ETF (esp one w ten competitors). $1b/day is big boy level volume, enough for (even big) institutional consideration. pic.twitter.com/1vxW5jhaXT

— Eric Balchunas (@EricBalchunas) February 26, 2024

BlackRock, one of the world's largest asset managers, launched its spot Bitcoin ETF earlier this year, offering investors exposure to BTC without the need for direct ownership or custody. The ETF's ability to attract such substantial trading volume in a single day reflects investors' appetite for Bitcoin as a legitimate asset class.

The $1 billion trading volume signals strong investor interest in Bitcoin amid ongoing market volatility and economic uncertainty. As institutional and retail investors seek diversified portfolios and alternative stores of value, Bitcoin has emerged as attractive investment option.

"Insane number for newbie ETF (esp one w ten competitors)," commented Balchunas. "$1b/day is big boy level volume, enough for (even big) institutional consideration."

Forgot to mention that $1b (so far) today is a personal record for $IBIT. And note volume isn’t flows yes, but in many ways it is just as imp long term. Liquidity decreases friction and cost and increases anonymity. That’s why institutions tend to only use big volume ETFs

— Eric Balchunas (@EricBalchunas) February 26, 2024

The ETF's success in reaching the $1 billion trading milestone reaffirms the growing mainstream acceptance of Bitcoin as a legitimate investment asset. And as the spot Bitcoin ETFs continue to grow, they're are expected to play a big role in bridging the gap between traditional finance and getting Bitcoin exposure.

As soon as markets opened on Monday, Bitcoin began to sharply rise in price, hitting highs not seen since December 2021.

U.S. Monday market open. $BTC bid. pic.twitter.com/SQGXR69weX

— Dylan LeClair 🟠 (@DylanLeClair_) February 26, 2024 "}]] 
More News

Swiss Bank Launches a Revolutionary Crypto...

Watch Icon
Last updated

Dukascopy Bank, a pioneer in financial innovation, is proud to announce the launch of its groundbreaking crypto lending program, offering cryptocurrency owners an opportunity to access instant cash while retaining their crypto investments. Instant Access to Cash While Keeping Investments Dukascopy’s crypto lending program allows users to unlock the value of their cryptocurrency holdings, providing […]

Trezor Wallets New Products Aim to Streaml...

Watch Icon
Last updated

Major crypto hardware wallet company Trezor has launched two new products, as well as a limited-edition Bitcoin wallet to celebrate its 10th anniversary – the latter of which sold out in a day. The company launched its new Trezor Safe hardware wallet and the physical seed phrase store Trezor Keep Metal, in addition to the […]

The Story Behind the U.S. Government’...

Watch Icon
Last updated

The U.S. government has become one of the largest holders of Bitcoin (BTC), acquiring approximately 200,000 coins (worth around $5 billion) through seizures related to criminal activities.  The digital assets were seized from cybercriminals and darknet markets and are securely stored offline in encrypted hardware wallets controlled by various federal agencies, including the Justice Department and the […]

Back to Top