BlackRock’s IBIT Sets New Trading Record In $11.5B ETF Volume Surge

BlackRock’s IBIT set a new trading record as Bitcoin ETF activity exploded across the market. U.S. Bitcoin spot ETFs hit $11.5 billion in combined volume, the highest ever recorded since the products launched.

Bitcoin ETF Demand Rises As IBIT Dominates Market Activity

According to Eric Balchunas of Bloomberg, IBIT alone generated $8 billion in trading activity. This made it the most heavily traded fund in the group and highlighted its dominance among institutional investors.

The record showed growing confidence in Bitcoin ETFs as investors repositioned aggressively. Balchunas confirmed that IBIT’s figure was its largest daily volume to date and described the activity as an eruption across the entire category. This increased activity aligns with BlackRock’s broader moves, including recent transfers of part of its Bitcoin and Ethereum holdings to Coinbase.

The session also brought strong inflows into several funds. Total inflows reached about $240 million, led by Fidelity’s FBTC with $108 million and consistent support for Grayscale’s products, per SoSoValue data. This implies a huge shift in investor sentiment after the BlackRock Bitcoin ETF recorded its biggest single day outflow recently.

Bitwise ETFs also experienced a great demand. Bitwise CEO Hunter Horsley confirmed that there was more than $40 million in inflows across three of the firm’s ETFs in a single day.

>$40,000,000 inflows across 3 different Bitwise ETFs in the US today.

Some may be selling, but ETF investors are buying.

Impossible for most to time a bottom perfectly. The best one can do is buy when an asset you like looks cheap.

And assets seem to look cheap to many.

I…

— Hunter Horsley (@HHorsley) November 22, 2025

IBIT Options Surge Shows Growing Hedging Demand

He said ETF investors were clearly buying right now because many now see assets as cheap relative to recent prices. The growing interest also reflects earlier disclosures showing that JPMorgan holds a significant investment in BlackRock’s Bitcoin ETF. This highlights the scale of institutional participation.

Horsley added that perfect timing is nearly impossible during market stress. He said many buyers act when assets look undervalued rather than waiting for a confirmed bottom. His comments suggest that long-term investors are using dips to build positions while short-term traders continue rotating through ETFs.

The day also marked a new milestone in options activity linked to IBIT. Balchunas also pointed to an all-time high in put volume for this BlackRock ETF this week. According to him, a large number of investors use puts as a cushion to hold long positions and protects them against a downside risk.

Also no surprise record week for Put volume in $IBIT.. this is one thing that may help ppl stay the course, they can always buy some puts as hedge while they stay long. This was something big investors loved about $SPY when it was first launched back in ’90s. pic.twitter.com/eDDXoDvmTv

— Eric Balchunas (@EricBalchunas) November 21, 2025

This increase in the volume of puts proves that investors are trading ETFs and building organized risk management around it at the same time. Such a trend contributes to liquidity and improves the position of the product in the broader market.