BlackRock’s iShares Bitcoin Trust (IBIT) experienced an unprecedented surge in trading volume on Nov. 6, with over $4.1 billion in transactions—its highest single-day volume ever—following Donald Trump’s re-election as U.S. president. Bloomberg ETF analyst Eric Balchunas highlighted the scale of the activity, noting that IBIT’s trading exceeded that of prominent stocks such as Berkshire Hathaway, Netflix, and Visa, marking a historic moment for Bitcoin-linked ETFs.
The wave of interest comes as Bitcoin itself hit a new all-time high of $76,500, driven by optimism about Trump’s pro-crypto stance and the potential for a more crypto-friendly regulatory environment. Balchunas observed that other Bitcoin ETFs also had an unusually active day, doubling their average volumes and echoing January’s early adoption boom.
This record activity signals growing mainstream and institutional adoption of Bitcoin ETFs, with IBIT leading the pack. BlackRock’s success reflects broader investor confidence in regulated Bitcoin products as an accessible alternative to direct crypto investment. Although Bitcoin’s price has slightly retraced to $75,267, it remains elevated, with traders and analysts watching closely as the asset shows resilience amid bullish market sentiment.
The historic volume underscores the impact of political developments on crypto markets, as Trump’s victory is viewed by many in the crypto community as a catalyst for potential policy shifts favorable to digital assets.
Source: Cointelegraph
Photo Credits: Cointelegraph
