BlackRock's spot Bitcoin ETF, IBIT, displayed extraordinary trading activity, reaching $4.2 billion in volume as Bitcoin price soared above $91,000 for the first time since March. This surge illustrates renewed market interest driven by institutional investment in spot ETFs. Other ETFs like Fidelity's FBTC and Grayscale's GBTC also saw significant volumes, indicating broad participation. The strong trading day reflects not just speculation but robust fundamental demand from corporate adoption, as evidenced by companies investing in Bitcoin as a reserve asset.
Earlier in the day, BlackRock's IBIT reached an all-time high against the Nasdaq index, a noteworthy milestone indicating the growing strength and investor confidence in the fund and Bitcoin.
High-volume trading days such as this, where the price of BTC surges up, often reflect strong inflows; however, official figures for net inflows won't be available until later.
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