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BlackRock Bitcoin ETF Hits $1 Billion in Trading in Just 20 Minutes
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The cryptocurrency market experienced a frenzy shortly after Donald Trump’s victory in the United States presidential election. In just 20 minutes of trading, BlackRock’s Bitcoin ETF, known as IBIT, moved more than US$1 billion, registering an all-time record volume in the financial market.
The victory of Trump, who adopted a pro-crypto stance during his campaign, boosted the price of Bitcoin to a new level, surpassing the US$75,000 mark, a record value.
Bloomberg ETF analyst Eric Balchunas commented on IBIT’s surprising performance. In a post on platform X, Balchunas highlighted that the volume traded in a few minutes exceeded what the fund normally moves in a full day.
“It’s insane volume for Bitcoin ETFs, something really record high,” said Balchunas, highlighting the impact of the US election on the appreciation of cryptocurrencies and investors’ appetite for IBIT.
Bitcoin ETF
In addition to the BlackRock fund, other Bitcoin ETFs, such as those from Fidelity and Grayscale, also recorded significant gains, with an average increase of 8% in early Wednesday afternoon.
These movements signal renewed optimism regarding the future of the cryptocurrency market, especially with the expectation of more favorable policies for the digital financial sector. Trump, during his campaign, promised to create a strategic Bitcoin reserve, a measure that would further reinforce the role of cryptocurrency in the US financial scenario.
BlackRock’s fund, which accumulates around US$30 billion in assets under management, leads the Bitcoin ETF market in volume and liquidity, being the preference among institutional investors seeking exposure to Bitcoin. The recent volume record indicates growing demand and strengthening investor confidence in BlackRock, which consolidates its leadership in the sector.
Trump’s victory represents, for many analysts, a positive boost for the cryptocurrency sector. The new president has already signaled his interest in reviewing current regulation, including the possibility of firing US Securities and Exchange Commission (SEC) Chairman Gary Gensler, known for his stricter stance on digital assets.
This possible regulatory flexibility could benefit both Bitcoin and other cryptoactives, facilitating the sector’s growth in the North American market.
BlackRock Bitcoin ETF Hits $1 Billion in Trading in Just 20 Minutes
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BlackRock Bitcoin ETF Hits $1 Billion in Trading in Just 20 Minutes
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BlackRock Bitcoin ETF Hits $1 Billion in Trading in Just 20 Minutes
