BlackRock’s Spot Bitcoin ETF, IBIT, recorded a massive trading volume of today’s $4.2 billion, as Bitcoin prices surged beyond $91,000 for the first time since early March. According to Barchart data, IBIT traded an astounding 81,098,938 shares and ended the trading session at a price of $52.08.
According to Bitbo, the surge in ETF activity will take place on the same day that Bitcoin rose to $91,739. This marks the highest price level since April 8, when Bitcoin hit its lowest price of $75,603. Strong upward momentum signals, particularly from institutional investment products such as Spot ETFs, have renewed purchasing pressure in the market.
Fidelity’s Spot Bitcoin ETF, FBTC, also saw significant trading activities with a volume of $425.17 million. Meanwhile, Grayscale’s GBTC recorded $250.91 million, Ark Invest’s ETF recorded $170 million, while Bitwise’s fund traded $110 million for $120 million.
Earlier in the day, BlackRock’s IBIT reached an all-time high when measured against the NASDAQ index. This is a notable milestone that demonstrates the growth of strength in funds and Bitcoin and investor confidence.
Such mass trading days, when BTC prices are surged, often reflect a strong inflow. However, as wealth managers make them public, official figures on net inflows and outflows to today’s ETF activity will not be available until later tonight.
As Bitcoin prices continue to rise and ETF products show strong trading volumes, the market is shaped not only by investor speculation, but also by basic demand from corporate and institutional buyers. The impact of regulated financial products such as Spot ETFs is amplified by the wave of corporate adoption.
In addition to institutional benefits through ETFs, public companies are increasingly turning their eyes to Bitcoin as a reserve asset. Michael Saylor’s strategy continues to actively acquire BTC, and has recently announced the purchase of 6,556 coins. Semler Scientific also took part in this trend, reaching its holdings above 1,100 BTC and recently purchased more to raise another $500 million. GameStop is also preparing to enter the market by raising $1.5 billion for its Bitcoin financial strategy known as “Project Rocket.” These companies’ movements are injecting additional demand into the market, further contributing to the momentum of rising prices.
Together, the surge in ETF activity and the increase in corporate adoption seem to form a strong feedback loop, which will help push Bitcoin prices to new highs. Although the final inflow data for today’s ETF trading arrives late tonight, the impact of the total institutional purchases from publicly available companies and balance sheet strategies is bolstering Bitcoin’s status as both investment assets and long-term value.
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