{"id":595605,"date":"2024-11-07T09:49:04","date_gmt":"2024-11-07T09:49:04","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=595605"},"modified":"2024-11-07T09:49:04","modified_gmt":"2024-11-07T09:49:04","slug":"blackrocks-bitcoin-etf-surpasses-berkshire-visa-netflix-volumes-as-trump-election-victory-triggers-a-buying-frenzy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/blackrocks-bitcoin-etf-surpasses-berkshire-visa-netflix-volumes-as-trump-election-victory-triggers-a-buying-frenzy","title":{"rendered":"BlackRock\u2019s Bitcoin ETF Surpasses Berkshire, Visa, Netflix Volumes As Trump Election Victory Triggers A Buying Frenzy"},"content":{"rendered":"
BlackRock’s spot Bitcoin ETF (exchange-traded fund) surpassed Berkshire Hathaway, Netflix, and Visa in trading volume yesterday after Donald Trump’s US election <\/span>victory<\/span><\/a> triggered a buying frenzy.<\/span><\/p>\n Bloomberg ETF analyst Eric Balchunas <\/span>said<\/span><\/a> in a Nov. 6 post on X that the fund witnessed its “biggest volume day ever” after trading activity soared to $4.1 billion on Nov. 6. The price of the investment product “was also up 10%, its second-best day since launching, “ he added. <\/span><\/p>\n <\/p>\n BlackRock’s spot Bitcoin ETF was not the only US investment product of its kind to experience one of its best days. Most of the other funds did two times their average trade volumes as well, according to Balchunas.<\/span><\/p>\n The surge in spot <\/span>Bitcoin<\/span><\/a> ETF volumes followed shortly after BTC <\/span>recorded<\/span><\/a> a new all-time high of $76,460.15 during yesterday’s trading session. It has since dropped a little over 2% from its peak to trade at $74,954.49 as of 3:39 a.m. EST.<\/span><\/p>\n Fidelity’s spot Bitcoin ETF <\/span>registered<\/span><\/a> the highest daily inflows yesterday after $308.8 million entered its reserves. ARKB and Grayscale’s BTC saw inflows of $127 million and $108.8 million, respectively, while BlackRock’s fund was the only one to record outflows yesterday.<\/span><\/p>\n Despite the outflows, the BlackRock fund is still comfortably in the lead in terms of cumulative outflows. Investors have sent more than $26 billion to the fund since its launch. This is substantially more than the $10.5 billion runner-up FBTC attracted during the same period.<\/span><\/p>\n Since their launch at the start of the year, spot Bitcoin ETFs have dominated the market. President of the ETF Store, Nate Geraci, shared a screenshot of the top ETF performers in an Oct. 23 X post. <\/span><\/p>\n 575 ETFs have now launched in 2024…<\/p>\n *14 of top 30* by inflows are either spot btc or eth ETFs.<\/p>\n Includes 6 of top 10.<\/p>\n There are also 2 MSTR-related ETFs in top 30.<\/p>\n Crypto appetite from tradfi is real. pic.twitter.com\/DmD6f5zJ1P<\/a><\/p>\n — Nate Geraci (@NateGeraci) October 23, 2024<\/a><\/p><\/blockquote>\nBlackRock’s Bitcoin ETF Not The Only Fund To Record A Volume Surge<\/span><\/h2>\n
Fidelity Records The Biggest Inflows After The Election<\/span><\/h2>\n
Bitcoin ETFs Dominate US ETF Market<\/h2>\n
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