BlackRock's iShares Bitcoin Trust (IBIT) recorded its highest daily trading volume on US election day after Donald Trump won the election.
Eric Balchunas, senior ETF analyst at Bloomberg, reported that within the first 20 minutes of trading the day after Trump's victory, IBIT had already experienced $1 billion in trading volume.
Along with IBIT, other spot Bitcoin exchange-traded funds also recorded significant trading volumes, surpassing $6 billion, which is the highest daily volume since March 14, according to SoSoValue data.
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Balchunas highlighted the overall success of the day for the emerging ETF market, stating that most ETFs doubled their trading volumes.
He also noted that the 12 funds recorded positive net inflows of $621.9 million, with Fidelity's FBTC leading the way with $308.7 million in inflows.