BlackRock's Bitcoin ETF hits record $4.1B in trading as BTC sets new ATH post-election, boosting its market cap past Meta.
exchange-traded funds had a rough start in November. However, after three consecutive days of outflows, the ETFs finally recorded massive inflows.from Farside Investors, daily total net inflows on the 6th of November soared to $621.9 million, effectively breaking the prior streak of outflows.
Trump had promised regulatory reform and firm support for the crypto industry, which could be another reason for this surge.Instead, it posted a daily net outflow of $69.1 million, following an outflow of $44.2 million the previous day.On the other hand, ETFs such as GBTC, FBTC, ARKB, BITB, BTC, and HODL recorded positive inflows, while the remaining funds experienced no inflows at all.
This surge, which equaled a typical full-day volume, contributed to IBIT’s record-breaking day with $4.1 billion traded. He remarked,In the wake of Trump’s re-election, IBIT wasn’t the only one setting new highs.At the time of writing, BTC’s price had retreated to $74,611, reflecting a 1.83% decrease from its peak.This reading indicated that while BTC remains below the overbought threshold, there was still potential for additional upward movement if buying pressure persists.
The IBIT and the price milestone underscored BTC’s growing recognition as a key player in the global financial landscape.Kamina is a content writer at AMBCrypto. With a Journalism degree and MBA in International Business, she expertly navigates blockchain, crypto, and AI, melding her academic insights with future-forward interests to create compelling narratives that educate and inspire in the evolving digital landscape.Subscribe to get it daily in your inbox.
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