IBIT, BlackRock’s Bitcoin Spot ETF, recorded a daily trading volume of over $1.3 billion for the second consecutive day on Tuesday, driven by Bitcoin’s rise to $57,000. IBIT achieved a trading volume of $1.357 billion during the day, surpassing Monday’s record of $1.3 billion.
Outstanding Performance for BlackRock’s IBIT
Approximately 42 million shares were traded, according to Nasdaq data, more than double the average since its launch in January. IBIT was among the five most traded ETFs in the U.S. during morning hours, while Fidelity’s Bitcoin ETF (FBTC) also experienced record trading volume.
Net Inflows and Growing Interest
The Bitcoin Spot ETFs listed in the U.S. attracted $520 million in net inflows on Monday as Bitcoin soared to $57,000. This follows a record-breaking Monday for Bitcoin ETFs, when combined daily volume reached $2.4 billion, slightly surpassing their launch volume.
Although trading volume can sometimes indicate positive interest in an investment product, this is not always the case as the metric takes into account both buy and sell orders. However, Monday’s high volume was characterized by strong inflows, with funds seeing approximately $520 million in net inflows and only minimal outflows from Grayscale’s GBTC, according to Bitmex Research.
Fidelity had the largest inflows with around $243 million, followed by Ark and 21Shares’ ARKB, which attracted $130 million. IBIT ranked third with $111 million, a relatively low figure for BlackRock’s fund compared to its average inflows since launch.
