- BlackRock’s Spot Bitcoin ETF trading volume surpassed $1.1 billion on Monday, making it the 11th highest-traded ETF currently
- Bitcoin’s price has risen 5% in the past 24 hours, fueled by increased crypto investment inflows, MicroStrategy’s BTC purchase, and Trump’s Bitcoin endorsement
- If Bitcoin’s bullish trend continues, BlackRock’s Spot Bitcoin ETF and competitors could break their single-day volume record this week
BlackRock‘s Spot Bitcoin exchange-traded fund (ETF) has reached a major milestone just weeks after launching. The ETF’s trading volume exceeded $1.1 billion on Monday, affirming its popularity among investors.
Trading Volume Soars
On Monday, BlackRock’s Spot Bitcoin ETF saw its trading volume surpass $1.1 billion in a single day. This makes it the 11th highest-traded ETF on the stock market currently. The Bitcoin ETF also entered the top 25 most-traded stocks on Monday.
With Bitcoin rallying significantly in the past week, most Spot Bitcoin ETFs are seeing increased interest. Bitcoin is trading above $54,000 as of writing. While BlackRock’s is the best-performing Spot Bitcoin ETF, its competitors have also seen a jump in volume.
Driving Bitcoin’s Rise
In the last 24 hours, Bitcoin’s price has increased by 5%. Several factors are contributing to this bullish trend. These include a rise in crypto investment inflows, another BTC purchase by Michael Saylor’s MicroStrategy, and an endorsement of Bitcoin by former President Trump.
As Bitcoin continues climbing, Spot Bitcoin ETFs from BlackRock and others could break their single-day volume record. If Bitcoin keeps rallying this week, these ETFs will likely see even more activity.
