Key Takeaways
- BlackRock's IBIT reached $4.1 billion in trading volume after Trump's win.
- U.S. Bitcoin ETFs collectively recorded $6 billion in daily trading.
- Investor confidence soared with expectations for favorable regulations under Trump.
IBIT surges to record $4 billion in trading volume
Following Donald Trump’s re-election, BlackRock’s iShares Bitcoin Trust (IBIT) recorded its highest single-day trading volume, reaching $4.1 billion. The fund, which launched in January 2024, saw $1 billion traded within the first 20 minutes of market opening, surpassing its typical daily volume. Bloomberg’s Eric Balchunas highlighted that IBIT’s volume outperformed major stocks like Berkshire Hathaway and Netflix.
Bitcoin ETFs attract $6 billion in volume
Overall, U.S. spot Bitcoin ETFs saw $6 billion in trading volume, nearly double the usual activity, reflecting heightened interest after the election results. IBIT, currently holding approximately 429,185 BTC worth $30 billion, remains the largest Bitcoin ETF on the market, helped by its competitive fee structure. According to Farside Investors, total Bitcoin ETF holdings have surpassed 1 million BTC.
Market confidence rises with Trump’s win
Investor confidence surged as Trump’s victory brought hopes for pro-Bitcoin policies, including potential regulatory support and a proposed national Bitcoin reserve. The election outcome has also fueled optimism about leadership changes at the SEC, further enhancing market enthusiasm for Bitcoin ETFs. Industry leaders, like Bitwise’s Matt Hougan, have called Trump’s win a catalyst for potential “golden age” growth in Bitcoin ETFs.
