BlackRock Spot Bitcoin ETF Traded $3.3 Billion Yesterday, Highest in 6 Months
BlackRock's spot bitcoin ETF IBIT traded at $3.3 billion yesterday (29 October), the highest in six months, according to Bloomberg ETF analyst Eric Balchunas, who posted data on the X platform. The analyst said, ‘This is a bit strange as Bitcoin is up 4% (usually ETF trading volume spikes in a downturn/crisis). Occasionally, if there is a FOMO frenzy (like ARKK in 2020), trading volumes may spike. Given the price spike over the past few days, I'm guessing this is the latter, which means there will be (more) large inflows this week.’
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