Friday , 8 November 2024
Home Cryptocurrency BlackRock’s IBIT trading volume surges to $1.1 billion despite no inflows
Cryptocurrency

BlackRock’s IBIT trading volume surges to $1.1 billion despite no inflows

BlackRock’s IBIT trading volume surges to $1.1 billion despite no inflows

Quick Take

Farside data shows that on June 25, Bitcoin (BTC) exchange-traded funds (ETFs) experienced the first net inflow since June 12, with $31.0 million entering the market.

Fidelity’s FBTC led the charge with a $48.8 million inflow, raising its total net inflow to $9.2 billion. Bitwise’s BITB also saw a notable inflow, attracting $15.2 million and bringing its total net inflow to $2.0 billion. In contrast, Grayscale’s GBTC struggled with outflows, losing $30.3 million and pushing its total outflow to $18.5 billion. According to Farside data, the total net inflows to BTC ETFs now stand at $14.4 billion.

Bitcoin ETF Flow Table: (Source: Farside)
Bitcoin ETF Flow Table: (Source: Farside)

Interestingly, BlackRock’s IBIT ETF recorded no net inflows or outflows, yet its trading volume surged to $1.1 billion, according to Coinglass data. For comparison, GBTC only managed a volume of $341 million, placing IBIT at number 18 overall in trading volume among all US ETFs. This raises speculation about IBIT’s potential to become a key institutional basis trade Bitcoin ETF, given its robust trading activity despite the absence of net inflows or outflows.

The post BlackRock’s IBIT trading volume surges to $1.1 billion despite no inflows appeared first on CryptoSlate.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Dapps’ revenue hits $164M in October amid growing adoption

According to a report by Binance Research, decentralized applications (dApps) represented 12...

Crypto ETFs are seeing huge inflows

These numbers for Wednesday's trade, showing 12 spot bitcoin ETFs raked in...

JP Morgan says Bitcoin could climb higher for 8 weeks – cites ‘Trump trade’

JP Morgan like BTC through to year end:“We continue to see room...