BlackRock Bitcoin ETF Surpasses Trading Volumes of Berkshire and VISA Stocks

Spot Bitcoin ETFs saw strong inflows following Donald Trump’s victory on November 6, while reversing its outflow trajectory over the past few days. BlackRock’s BTC ETF (IBIT) once again managed to hit a significant milestone with daily trading volumes for the IBIT share crossing $4.1 billion, surpassing the likes of top stocks Visa and Berkshire Hathaway.

BlackRock Bitcoin ETF Overtakes Berkshire, VISA Stocks

On Wednesday, November 6, the iShares Bitcoin Trust (IBIT) reached its largest-ever traded volume of $4.1 billion. For comparison, this trading volume exceeded that of major stocks like Berkshire Hathaway, Netflix, and Visa on the same day.

On the other hand, the shares of BlackRock Bitcoin ETF (IBIT) surged by 10% yesterday, while marking its second-best performance since launch. Bloomberg ETF strategist Eric Balchunas noted that this high volume could likely lead to inflows in the coming days, signaling increased investor interest and confidence in the fund.

$IBIT just had its biggest volume day ever with $4.1b traded.. For context that's more volume than stocks like Berkshire, Netflix or Visa saw today. It was also up 10%, its second best day since launching. Some of this will convert into inflows likely hitting Tue, Wed night pic.twitter.com/vy2zJBwaHd

— Eric Balchunas (@EricBalchunas) November 6, 2024

Together, the group of nine US Bitcoin ETFs did a total trading volume of $6 billion yesterday, marking their highest single-day performance since launch in January. Balchunas noted that most Bitcoin ETFs saw trading activity double their daily average, highlighting the growing momentum and investor interest in this emerging asset class. He also described the milestone as a “banger day” for the young ETF category, which continues to exceed expectations.

Fidelity’s FBTC Leads the Pack

On Wednesday, the Fidelity Bitcoin ETF (FBTC) led the pack with more than $300 million in inflows. Other players also participated with Ark Invest’s ARKB seeing $127 million in inflows, Bitwise’s BITB seeing $100.9 million in inflows, and Grayscale’s mini ETF (BTC) also seeing over $100 million in inflows. Despite the strong trading volumes, BlackRock’s IBIT saw total outflows at $68 million, as per data from Farside Investors.

These inflows can once again gather pace as Donald Trump takes over the White House office in January 2025. Following Bitcoin’s all-time high yesterday, analysts are predicting the beginning of a new dawn for BTC under the Trump administration. Popular Bitcoin strategist Dylan LeClair stated:

“You have approximately three months until the U.S. Government puts into law active accumulation of bitcoin as a strategic reserve asset. Other sovereigns will be discreetly front running. The clock has already started”.

Following nearly 20 hours since the US election results, the Bitcoin price has been holding firmly above $75,000 as investors await the FOMC meeting on Thursday. A Fed rate cut of an additional 25 basis points could propel Bitcoin to new highs as investors await the rally to $100K.