“On November 11, the turnover of BlackRock’s iShares Bitcoin Trust ETF reached a record high of $4.5 billion. Bloomberg analyst Eric Balchunas drew attention to this. The Bitcoin Industrial Complex (ETFs + MSTR, COIN) saw $38b in trading volume today, lifetime records being set all over the place, incl $IBIT which did $4.5b, which points to a robust week of inflows. Just […]”, — write: businessua.com.ua
On November 11, the turnover of BlackRock’s iShares Bitcoin Trust ETF reached a record high of $4.5 billion. Bloomberg analyst Eric Balchunas drew attention to this.
The Bitcoin Industrial Complex (ETFs + MSTR, COIN) saw $38b in trading volume today, lifetime records being set all over the place, incl $IBIT which did $4.5b, which points to a robust week of inflows. Just an insane day, it really deserves a name a la Volmageddon pic.twitter.com/rcOLs0MhNF
— Eric Balchunas (@EricBalchunas) November 11, 2024
The previous record was $4.14 billion. It preceded the maximum inflow in history of $1.12 billion into the product ($1.38 billion into the sector in general).
The expert noted that this situation can be expected to repeat itself.
According to Balchunas’ calculations, the total trading volume of Bitcoin-related instruments amounted to $38 billion.
“Just a crazy day, it really deserves the name à la “Volmageddon“, he commented.
The background was the continuation of the rally of the first cryptocurrency with access to a new one ATH near $89,000.
On November 11, inflows into spot bitcoin-ETFs totaled $357.6 million, and the trading volume was a record $7.3 billion.
Source: SoSoValue.
Cumulative inflows since the approval of the BTC-ETF in January have increased to $26.2 billion.
It will be recalled that Bernstein predicted that in the event of the victory of Donald Trump, bitcoin will reach $80,000-90,000.
Previously, the company’s specialists called for “as soon as possible” to add crypto-assets to the investment portfolio. They recommended buying a basket of digital assets including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE and LINK.
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