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The BlackRock Bitcoin ETF (exchange-traded fund) recorded a new daily trading volume record as Polymarket odds of BTC reaching $100K by the end of the year surge.
BlackRock’s IBIT fund generated $4.5 billion in daily trading volumes yesterday, according to a Nov. 11 post on X by Bloomberg ETF analyst Eric Balchunas.
BlackRock Bitcoin ETF Leads $1.1 Billion Inflows
IBIT not only experienced a surge in trading activity, it also recorded the most inflows of the US spot Bitcoin ETFs on Nov. 11.
During yesterday’s session, the asset management titan’s ETF saw $756.5 million enter its reserves, according to Farside Investor data. This is more than half the $1,114.1 million inflows the funds recorded collectively on the day.
Fidelity’s FBTC registered the second highest inflows after investors sent $135.1 million to the fund. Trailing behind FBTC is ARK and 21Shares’ ARK, which saw net inflows of $108.6 million.
Bitwise’s BITB, Invesco’s BTCO, Franklin’s EZBC and both of Grayscale’s spot Bitcoin ETFs all registered inflows on Nov. 11. Meanwhile, Valkyrie’s BRRR, VanEck’s HODL and WisdomTree’s BTCW recorded no new flows yesterday.
Polymarket Bettors Confident Of $100K BTC Before Year-End
The uptick in IBIT’s trading volumes and inflows happened during the same time BTC managed to zoom past its previous all-time high to establish a new peak at $89,956.88 in the last 24 hours. It has since pulled back slightly to trade at $89,475.20 as of 3:43 a.m. EST.
Odds Bitcoin hits $100k this year just shot up to 53%. pic.twitter.com/rPKVBCI8mg
— Polymarket (@Polymarket) November 11, 2024
According to a contract on Polymarket asking whether BTC will soar to $100K by the end of the year, there is still more upside in the cards for the leading crypto.
Odds on the decentralized betting platform in favor of this happening surged 33% in the last 24 hours. As a result, “Yes” shares are priced at $0.66, indicating a 66% probability that the $100k mark will be breached, according to Polymarket bettors.
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