BlackRock's Bitcoin ETF trades over $1.3 billion for 2nd day in a row – new record high | CoinDesk JAPAN

• BlackRock's IBIT recorded a trading volume of $1.35 billion on the 27th, exceeding the previous day's trading volume on the 26th.
• The US Bitcoin Spot ETF saw net inflows of $520 million on the 26th as Bitcoin rose to $57,000.

The trading volume of asset management giant BlackRock's spot Bitcoin ETF (exchange traded fund) continued to be high on the 27th, with daily trading volume exceeding $1.3 billion (approximately 195 billion yen) for the second consecutive day. . This was boosted by the rise in Bitcoin (BTC) to $57,000 (approximately 8.55 million yen, equivalent to 150 yen per dollar).

Eric Balchunas, an ETF analyst at Bloomberg Intelligence, wrote on X (formerly Twitter) during market close on the 27th afternoon that BlackRock's IBIT had traded for the day at $1.357 billion. He pointed out that this record exceeded the previous record of $1.3 billion set on the 26th. Nearly 42 million units were traded, according to Nasdaq data, more than double the average since trading began in January.

Anonymous HODL15Capital noted in a post on X that IBIT was the fifth most traded of all US ETFs in the morning, and said Fidelity's FBTC also posted “strong” trading volume.

According to data cited by Balciunas, overall trading volume for U.S. Bitcoin spot ETFs exceeded $2 billion, but this was just shy of the record daily trading volume of $2.4 billion set on the 26th. It didn't come close to that.

Although trading volume may indicate high interest in an investment product, this is not necessarily the case as it includes both buy and sell orders.

However, the high volume on the 26th was indeed driven by large inflows into ETFs, according to BitMex Research. Net inflows into the ETF were approximately $520 million (approximately 78 billion yen), and outflows from Grayscale's GBTC were negligible.

Fidelity had the largest inflows at about $243 million, followed by Ark and 21Shares' ARKB with $130 million. IBIT ranked third in inflows with $111 million, which was low compared to the average inflow since its launch.

As Bitcoin broke out of its sideways hold on the 26th, trading volume soared. After the U.S. market closed, the stock rose more than 10% to reach $57,000, its highest level since November 2021. Bitcoin is up 6% in the past 24 hours, outpacing the 3.5% rise in the CoinDesk 20, which measures the performance of the top crypto assets by volume.

｜Translation and editing: Rinan Hayashi
｜Image: Jim Henderson, modified by CoinDesk
｜Original text: BlackRock Bitcoin ETF Hits Record Volume of Over $1.3B for Second Consecutive Day