Blackrock Bitcoin ETF Has Now Surpassed Its Gold ETF
Key Points:
- BlackRock Bitcoin ETF reached its highest daily trading volume of $4.1 billion on U.S. election day, boosted by investor optimism linked to election outcomes.
- Bitcoin ETFs, especially BlackRock’s, are gaining favour as an alternative to gold.
Following the U.S. election results, the BlackRock Bitcoin ETF recorded its highest daily trading volume, indicating increased interest in cryptocurrency investment.
Read more: BlackRock Bitcoin ETF Now Seeing Active Investor EngagementÂ
BlackRock Bitcoin ETF Records Highest Trading Volume After Election Announcement
On election day, the BlackRock Bitcoin ETF reached a record of $4.1 billion in trading volume, the biggest single-day volume since its launch. According to analysts, the jump might also have partly come due to investor confidence in the possible return of Trump, referred to as a deregulation president, which would serve to help cryptocurrency markets.
According to Nate Geraci, co-founder of the ETF Institute, Bitcoin ETFs have quickly stolen the show among institutional investors and could become a competitor to more traditional assets like gold. Now, BlackRock Bitcoin ETF has more assets under management than the company’s gold ETF.
Record Inflows Indicate Increasing Mainstream Adoption of Bitcoin ETFs
On November 8, Bloomberg’s Eric Balchunas reported historic inflows into Bitcoin ETFs, reaching a net $1.4 billion, with BlackRock Bitcoin ETF accounting for $1.1 billion of this amount. Total inflows for Bitcoin ETFs over the past month hit $6.7 billion, while year-to-date inflows stand at an impressive $25.5 billion.
With close to 18,000 Bitcoins bought in a single day, US-based spot Bitcoin ETFs collectively now hold more than 93% of the 1.1 million bitcoins attributed to Bitcoin’s creator, Satoshi Nakamoto. The heavy inflows underscore the swelling mainstream adoption of cryptocurrency-based investment products and growing inclusions of digital assets within traditional portfolios.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Blackrock Bitcoin ETF Has Now Surpassed Its Gold ETF
Key Points:
- BlackRock Bitcoin ETF reached its highest daily trading volume of $4.1 billion on U.S. election day, boosted by investor optimism linked to election outcomes.
- Bitcoin ETFs, especially BlackRock’s, are gaining favour as an alternative to gold.
Following the U.S. election results, the BlackRock Bitcoin ETF recorded its highest daily trading volume, indicating increased interest in cryptocurrency investment.
Read more: BlackRock Bitcoin ETF Now Seeing Active Investor EngagementÂ
BlackRock Bitcoin ETF Records Highest Trading Volume After Election Announcement
On election day, the BlackRock Bitcoin ETF reached a record of $4.1 billion in trading volume, the biggest single-day volume since its launch. According to analysts, the jump might also have partly come due to investor confidence in the possible return of Trump, referred to as a deregulation president, which would serve to help cryptocurrency markets.
According to Nate Geraci, co-founder of the ETF Institute, Bitcoin ETFs have quickly stolen the show among institutional investors and could become a competitor to more traditional assets like gold. Now, BlackRock Bitcoin ETF has more assets under management than the company’s gold ETF.
Record Inflows Indicate Increasing Mainstream Adoption of Bitcoin ETFs
On November 8, Bloomberg’s Eric Balchunas reported historic inflows into Bitcoin ETFs, reaching a net $1.4 billion, with BlackRock Bitcoin ETF accounting for $1.1 billion of this amount. Total inflows for Bitcoin ETFs over the past month hit $6.7 billion, while year-to-date inflows stand at an impressive $25.5 billion.
With close to 18,000 Bitcoins bought in a single day, US-based spot Bitcoin ETFs collectively now hold more than 93% of the 1.1 million bitcoins attributed to Bitcoin’s creator, Satoshi Nakamoto. The heavy inflows underscore the swelling mainstream adoption of cryptocurrency-based investment products and growing inclusions of digital assets within traditional portfolios.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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