BlackRock IBIT reached its highest daily volume of $4.1B on US presidential election day.
The U.S. spot Bitcoin ETFs recorded $621.90 million in net inflows on Nov 6.
The victory of Donald Trump in the U.S. presidential election race has impacted the broader financial markets. Particularly, the cryptocurrency market and the related investment products.
With Bitcoin (BTC) surging past $76K, the US spot Bitcoin ETFs have witnessed an escalation in trading volumes and inflows. Notably, BlackRock’s Bitcoin ETF, IBIT, reached its peak trading level, recording an all-time high daily volume of $4.1 billion. Notably, the volume of IBIT reached $1 billion in the first 20 minutes of the trading day that opened after Trump’s victory.
Eric Balchunas, Bloomberg ETF analyst, reported the enormous volume of IBIT. Moreover, cited that it surpassed the trading volumes of major stocks such as Berkshire Hathaway, Netflix, and Visa.
Nate Geraci, President of ETF Store, predicted tha
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