The post BlackRock’s Bitcoin ETF Hits Daily Volume Record of $10B appeared on BitcoinEthereumNews.com. BlackRock’s spot Bitcoin exchange-traded fund (ETF) has reportedlyThe post BlackRock’s Bitcoin ETF Hits Daily Volume Record of $10B appeared on BitcoinEthereumNews.com. BlackRock’s spot Bitcoin exchange-traded fund (ETF) has reportedly

BlackRock’s Bitcoin ETF Hits Daily Volume Record of $10B

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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.

Source: Eric Balchunas

On Wednesday, IBIT posted net outflows totalling $373.4 million, with the ETF having just 10 trading days of net inflows so far in 2026. The ETF has struggled to maintain a consistent stream of inflows since a crypto market crash in early October, as the price of Bitcoin (BTC) continues to plummet.

Bitcoin has dropped 12% in the past 24 hours to $64,000, climbing after hitting a low of $60,300. The cryptocurrency has fallen by around 50% since its all-time high of around $126,000 in early October, according to CoinGecko data. 

IBIT has followed a similar pattern, hitting a peak of almost $70 in early October, and has since dropped around 48% to sit at $36.10 as of the close of trading on Thursday.

Related: Strategy records $12.4B loss in Q4, shares dip 17% as Bitcoin tumbles

Bob Elliott, the investment chief at asset manager Unlimited Funds, said on Sunday that the average dollar invested in IBIT is now underwater as of the market close on Friday, which marked another painful day for the fund.

The latest BTC crash comes as the market reacts to weak US job market data and growing concerns over the substantial capital being poured in the artificial intelligence sector. 

Analysts, such as veteran trader Peter Brandt, have argued the carnage may not be over, noting on Wednesday that Bitcoin is showing “fingerprints of campaign selling” with few buyers stepping in to prop the price up.

Magazine: 6 weirdest devices people have used to mine Bitcoin and crypto

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Source: https://cointelegraph.com/news/blackrock-ibit-daily-volume-record-10-billion-bitcoin-crash?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

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