BlackRock’s IBIT hits daily volume record of $10B amid Bitcoin crash
Traders were active in BlackRock’s iShares Bitcoin Trust ETF on Thursday as Bitcoin plummeted, falling 12% in the last 24 hours.
BlackRock’s spot Bitcoin exchange-traded fund (ETF) has reportedly seen an all-time peak daily trading volume as traders responded to Bitcoin’s rapidly crashing price.
The iShares Bitcoin Trust ETF (IBIT) “crushed its daily volume record” on Thursday, with $10 billion worth of shares trading hands, Bloomberg ETF analyst Eric Balchunas said on X.
Balchunas added that IBIT dropped 13% on the day, its “second-worst daily price drop since it launched,” with its biggest daily price crash coming in at 15% on May 8, 2024.