Blackrocks Spot Bitcoin Etf, Ibit, recorded a massive $ 4.2 billion in trading volume today as the price of Bitcoin rose over $ 91,000 for the first time since the beginning of March. According to data from Barchart, Ibit traded a staggering 81,098,938 shares, ending the trade session at a price of $ 52.08.
The wave in the ETF activity comes on the same day Bitcoin climbed to $ 91,739, according to Bitbo. This marks the highest price level since April 8 when Bitcoin hit a low level of $ 75,603. The strong upward momentum signals renewed purchase pressure on the market, especially from institutional investment products such as spot -TFs.
Fidelity’s Spot Bitcoin Etf, FBTC, also saw a significant trading activity with $ 425.17 million in volume. Meanwhile, Grayscales GBTC placed $ 250.91 million, Ark Invest’s ETF recorded $ 170 million, and BitWise’s fund traded $ 120 million during the day.
Earlier in the day, Blackrocks Ibit also reached a highlight at all times when measured against the NASDAQ index, a remarkable milestone indicating the growing strength and investor confidence in the fund and Bitcoin.
High -volume trade days like this one, where the price of BTC waves up, often reflect strong influxes. However, the official figures for net flow and outflow to today’s ETF activity will not be available until later tonight, as the wealth managers will be announcing them.
As Bitcoin’s price continues to trend upwards and ETF products show strong trading volumes, the market is now formed not only by investor speculation, but also by basic demand from business and institutional buyers. The impact of regulated financial products such as spot -TFs is reinforced by a growing wave of business.
In addition to institutional interest via ETFs, public companies are increasingly addressing Bitcoin as a reserve asset. Michael Saylor’s strategy has continued to aggressively acquire BTC, which most recently announced the purchase of 6,556 more coins. Semler Scientific has also joined the trend and reached over 1,100 BTC in Holdings and recently archiving to collect another $ 500 million to buy more. Gamestop is also preparing to enter the market after collecting $ 1.5 billion for a Bitcoin Treasury strategy called “Project Rocket.” These business movements are injecting further demand in the market, which further contributes to an upward pricing.
Together, the increase in ETF activity and rising businesses appear to form a powerful feedback loop, which helps push Bitcoin’s price to new heights. While the final influx data for today’s ETF trade arrives later in the evening, the overall effect of institutional purchase and balance strategies from listed companies Bitcoin’s status as both an investment asset and a long-term value of value.