Trading History: BlackRock Bitcoin ETF Smashes Daily Volume Record – Analysis Inside

BlackRock’s Bitcoin exchange-traded fund (ETF) marked a milestone on Thursday as it traded nearly 100 million shares, setting a new daily volume record. The surge in trading activity coincided with Bitcoin’s 6% dip from its daily peak during U.S. trading hours.

iShares Bitcoin Trust volume hits 9.93 million shares, totaling over $3.9 billion

Trading data from March 14 revealed that the iShares Bitcoin Trust (IBIT) witnessed a staggering 99.3 million shares traded, amounting to over $3.9 billion in trading volume. This surpasses the previous record set less than 10 days ago on March 5, highlighting the escalating investor interest in Bitcoin-related assets.

BlackRock's ETF Leads in Volume While GBTC Remains Top in Asset Size Among U.S. Bitcoin ETFs

Despite the dominance of BlackRock’s ETF in trading volume and net inflows among the newly launched ETFs in January, the Grayscale Bitcoin Trust (GBTC) maintains its position as the largest by assets among the U.S. Bitcoin ETFs. However, its trading volume on March 14 trailed behind IBIT at $1.96 billion.

Greyscale's ETF market share in Bitcoin ETFs falls below 50%

Grayscale’s ETF market share among Bitcoin ETFs dipped below 50% as of March 10, with outflows nearing $11.7 billion since its transition from a trust to an ETF alongside the introduction of nine new funds.

Analyst Eric Balchunas points out that the combined trading volume for 10 ETFs this month has soared to $65 billion

According to Bloomberg ETF analyst Eric Balchunas, the combined monthly trading volumes of the ten ETFs have already exceeded previous months’ figures, reaching $65 billion this month, compared to roughly $42 billion in February.

Investor Interest in Bitcoin ETFs Surges, Seeing Over $1 Billion in Net Inflows on March 12th

Net capital inflows into the ETFs have also surged, hitting a record of over $1 billion in daily net inflows on March 12, showcasing sustained investor confidence in Bitcoin-related investment products.

Bitcoin Price Volatility: Drops 2% Over 24 Hours Before Rebounding Above $71,600

Meanwhile, Bitcoin experienced a 2% decline in the past 24 hours, reaching an intra-day high of over $73,500 before dropping to $68,855 just before the U.S. trading day concluded. However, it has since rebounded by 4%, currently trading above $71,600.