“From the moment of approval in January to November 13, BTC-ETF turnover reached $505.4 billion. Such data was provided by The Block. The $100 billion mark was broken by March and $200 billion by April, when Bitcoin hit its ATH of $74,000 for the first time this year. The upward trajectory then slowed somewhat as the price consolidated between $50,000 and $70,000 over the next seven months. Activation took place after exit […]”, — write: businessua.com.ua
From the moment of approval in January to November 13, BTC-ETF turnover reached $505.4 billion. Such data was provided by The Block.
Overcoming the threshold of $100 billion took place by March and $200 billion by April, when bitcoin hit its first high of the year ATH at the level of $74,000.
The upward trajectory then slowed somewhat amid price consolidation in the range between $50,000 and $70,000 over the next seven months.
The rally came after reaching new all-time highs in light of the victory of cryptocurrency supporter Donald Trump in the US presidential election.
Source: The Block.
Growing interest in BlackRock’s IBIT accelerated the achievement of the $500 billion milestone On November 13, the product turnover reached another record of $5.37 billion.
“IBIT trading volume for the first time in history reached $5 billion. Only 3 ETFs and 8 stocks were more active today. Up to $13 billion in three days this week. Its counterparts also show an increased volume, but on a smaller scale. FBTC earned $1 billion, the most since March,” commented Bloomberg analyst Eric Balchunas.
I thought things were cooling off, but no, $IBIT just saw $5b in volume today for the first time ever. Only 3 ETFs and 8 stocks saw more action today. Up to $13b in 3 days this week. Its peers seeing heightened volume too but smaller scale. $FBTC did $1b, biggest day since March. pic.twitter.com/9SQP5oPsMM
— Eric Balchunas (@EricBalchunas) November 13, 2024
Cumulative turnover across all instruments reached $8.07 billion on November 13, the fourth largest since launch and the largest since the previous peak in March.
Revenues amounted to $510.11 million, of which $230.9 million went to IBIT, $186.1 million to FBTC from Fidelity.
Source: SoSoValue.
Cumulative inflows since the approval of the BTC-ETF in January have increased to $28.2 billion, including $4.7 billion since Trump’s victory.
AUM products increased to $95.4 billion, of which IBIT accounted for $42.6 billion.
Source: SoSoValue.
“IBIT crossed the $40 billion mark (just two weeks after reaching the $30 billion mark) in a record 211 days. The fund broke the previous high of 1,253 days held by IEMG. Now it is in the top 1% of all ETFs in terms of assets, and its “age” (10 months) exceeds all 2,800 ETFs launched in the last ten years,” Balchunas calculated.
JUGGERNAUT: $IBIT has hit the $40b asset mark (a mere two weeks after hitting $30b) in a record 211 days, annihilating the previous record of 1,253 days held by $IEMG. It’s now in the Top 1% of all ETFs by assets and at 10 months old it is bigger than all 2,800 ETFs launched in the past TEN years. pic.twitter.com/WTATlpShUq
— Eric Balchunas (@EricBalchunas) November 13, 2024
We will remind, the co-founder of Syncracy Capital Daniel Chung predicted the launch of SOL-ETF already in the first quarter of 2025 after the victory of Donald Trump in the US presidential elections.
The source