- BlackRock’s iShares Bitcoin Trust (IBIT) ETF reached over $300 million in trading volume within the first 30 minutes of trading on April 11, 2024, entering the top 10 ETFs by volume.
- IBIT’s market cap of around $19 billion would place it as the 19th largest ETF by market cap in the US market.
- With a 52% year-to-date increase in share price, IBIT has outperformed bond ETFs by a significant margin.
BlackRock’s iShares Bitcoin Trust (IBIT) has taken the ETF market by storm since its launch in January. The Bitcoin-based ETF has seen massive trading volume and market cap growth, cementing its status as a top performing investment vehicle.
Trading Volume and Market Cap
IBIT has accumulated an impressive 266,587 Bitcoin, boasting a market cap of approximately $19 billion. With a remarkable 52% year-to-date increase in share price, IBIT has significantly outperformed bond ETFs.
Coinglass data shows that if ranked among other US ETFs in market cap, IBIT would secure the 19th position, nestled between VanEck Semiconductor ETF and iShares MSCI Emerging Markets ETF. IBIT’s trading volume also speaks to its success, with over $1.5 billion traded on April 10, placing it in the top 20 ETFs by volume. Considering market cap and volume, IBIT has solidified its position as a top 20 ETF.
Continued Growth
On April 11, within the first 30 minutes of trading, IBIT reached over $300 million in volume, positioning it among the top 10 ETFs by volume. As IBIT continues breaking records, and with more Bitcoin ETFs anticipated to launch in Hong Kong and London, the future looks promising for Bitcoin-based investment vehicles.
