IBIT, BlackRock's Bitcoin exchange-traded fund (ETF), reaffirms its absolute leadership in the crypto market after recording an unprecedented trading volume of $4.300 billion..
BlackRock's entry into the cryptocurrency world has marked a turning point, especially with its exchange-traded fund, iShares Bitcoin Trust (IBIT).
Amid a significant surge in Bitcoin's price, which now exceeds $93.000, BlackRock's IBIT has seen unprecedented trading volume, reaching $4.300 billion on April 23 alone. This increase reflects not only the growing confidence in Bitcoin as a financial asset, but also BlackRock's consolidation as a leader in spot ETFs, transforming the crypto market and attracting institutional investors with renewed vigor.
TRADE BITCOIN (BTC) HEREIBIT records record trading volume with $4.300 billion
The iShares Bitcoin Trust (IBIT) saw extraordinary trading volume, trading over 81 million shares on April 23. The session closed with a share price close to $52, driven by a parallel rise in the price of Bitcoin, which, according to market data, reached a peak of $94.530 todayThis figure marks the highest level since early March of this year, when Bitcoin was trading at around $76.000 per unit, demonstrating a solid and sustained recovery over the past two months.
The magnitude of these operations This makes IBIT the dominant ETF in the Bitcoin exchange-traded fund market, with volume accounting for a significant portion of the total traded in this segment. To put this in perspective, other funds like Fidelity's FBTC generated considerably lower volumes, at $425 million, while competitors like Grayscale, Ark Invest, and Bitwise also saw lower figures compared to IBIT.
Source: Soso Value
This record not only highlights the fund's attractiveness but also demonstrates the growing institutional participation BlackRock has managed to attract. Confidence in IBIT has been reinforced by both regulatory stability and the product's effectiveness in providing direct and secure access to Bitcoin without the risks associated with direct cryptocurrency management.
TRADE WITH CONFIDENCE – GO TO BIT2ME LIFEBitcoin: $90 Boosts Institutional Demand
The jump in Bitcoin's price to levels above $90.000 has been a key driver of activity in IBIT and other financial instruments linked to this digital asset. This surge has strengthened the perception of Bitcoin as a reliable store of value amid the volatility of other markets. Institutional demand has accelerated considerably, with major market players intensifying their purchases and accumulations.
On the other hand, the development and adoption of Bitcoin spot ETFs, led by IBIT, is playing a crucial role in this upward trend. These funds allow institutional and retail investors to access Bitcoin in a regulated and transparent manner, facilitating the entry of fresh capital into the crypto market.
Spot ETFs are proving even more attractive than other cryptocurrency-based products due to the growing demand and liquidity for Bitcoin. BlackRock has capitalized on this trend with a solid strategy, including the geographic expansion of IBIT, such as its launch in Canada in early January, and negotiations to expand trading limits on platforms like Nasdaq.
BUY BITCOIN (BTC) ON BIT2METhis robustness in ETF operations has helped BlackRock maintain its leading position, boosting not only trading volumes but also market stability. Thus, the combination of a reliable product, institutional backing, and a favorable market is fueling overall confidence, which in turn reinforces Bitcoin's bullish trend.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
