Blackrock’s spot Bitcoin ETF iBIT made $4.2 billion in trading volume today as the price of Bitcoin soared $91,000 for the first time since early March. According to Barchart, IBIT traded an astonishing 81,098,938 shares to end the trading session at $52.08.
According to Bitbo, the surge in ETF activity climbed to $91,739 on the same day. This marks the highest price level since April 8, when Bitcoin’s low reached $75,603. The strong upward momentum marks buying pressure in the market, especially from institutional investment products such as Spot ETF.
Fidelity’s spot Bitcoin ETF FBTC also saw significant trading activity at a volume of $425.1 million. Meanwhile, Grayscale’s GBTC is priced at $250.91 million, ARK Invest’s ETF has $170 million, and Bitwise’s fund traded $120 million that day.
Earlier in the day, BlackRock’s IBIT also reached an all-time high when it opposed the Nasdaq index’s measurement, a notable milestone that demonstrates the growth of strength and investor confidence in funds and Bitcoin.
On large trading days like this, the price increase in BTC usually reflects a strong inflow. However, it will not be until later tonight that wealth managers advertise it until later today that official data on net inflows and outflows of ETF activity today will be available.
As Bitcoin prices continue to trend upward, ETF products show strong trading volumes, and now the market is shaped not only by investor speculation, but also depends on the basic needs of companies and institutional buyers. The impact of regulated financial products such as spot ETFs is being expanded by more and more companies adopting Inspur.
In addition to institutional interests through ETFs, listed companies are increasingly using Bitcoin as a reserve asset. Michael Saylor’s strategy continues to aggressively acquire BTC, and recently announced the purchase of 6,556 coins. Semler Scientific has also joined the trend, holding more than 1,100 BTC and recently submitted a $500 million raising fund to buy more. GameStop is also ready to enter the market and raises $1.5 billion in Bitcoin’s treasury strategy, called “Project Rocket.” The actions of these companies are injecting additional demand into the market, further boosting price momentum.
In short, the surge in ETF activity and the increase in company adoption seem to be forming a strong feedback loop that helps push Bitcoin’s price to new highs. While the final inflow data for ETF transactions will arrive later this evening later today, the combined impact of public trading companies’ institutional purchases and balance sheet strategies is strengthening Bitcoin’s position as an investment asset and a long-term store of value.
