The BlackRock Bitcoin ETF (exchange-traded fund) recorded a new daily trading volume record as Polymarket odds of BTC reaching $100K by the end of the year surge.
BlackRock’s IBIT fund generated $4.5 billion in daily trading volumes yesterday, according to a Nov. 11 post on X by Bloomberg ETF analyst Eric Balchunas.
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The BlackRock Bitcoin ETF (exchange-traded fund) recorded a new daily trading volume record as Polymarket odds of BTC reaching $100K by the end of the year surge.
BlackRock’s IBIT fund generated $4.5 billion in daily trading volumes yesterday, according to a Nov. 11 post on X by Bloomberg ETF analyst Eric Balchunas.
BlackRock Bitcoin ETF Leads $1.1 Billion Inflows
IBITÂ not only experienced a surge in trading activity, it also recorded the most inflows of the US spot Bitcoin ETFs on Nov. 11.
During yesterday’s session, the asset management titan’s ETF saw $756.5 million enter its reserves, according to Farside Investor data. This is more than half the $1,114.1 million inflows the funds recorded collectively on the day.
Fidelity’s FBTC registered the second highest inflows after investors sent $135.1 million to the fund. Trailing behind FBTC is ARK and 21Shares’ ARK, which saw net inflows of $108.6 million.
Bitwise’s BITB, Invesco’s BTCO, Franklin’s EZBC and both of Grayscale’s spot Bitcoin ETFs all registered inflows on Nov. 11. Meanwhile, Valkyrie’s BRRR, VanEck’s HODL and WisdomTree’s BTCW recorded no new flows yesterday.
Polymarket Bettors Confident Of $100K BTC Before Year-End
The uptick in IBIT’s trading volumes and inflows happened during the same time BTC managed to zoom past its previous all-time high to establish a new peak at $89,956.88 in the last 24 hours. It has since pulled back slightly to trade at $89,475.20 as of 3:43 a.m. EST.
FOMC Keeps Rate Cut Streak Going
IBIT’s massive inflows come amid an interest rate cut from the Federal Reserve’s FOMC. Following the 50 basis points reduction it announced for September, the FOMC lowered its benchmark overnight borrowing rate to a target range of 4.50%-4.75%.
The latest interest rate cut had a positive impact on the crypto market, which saw its capitalization climb over 2% in the last 24 hours.
Market leaders Bitcoin (BTC) and Ethereum (ETH) kept their bullish momentum going following a spike after Donald Trump won the US election, posting gains of more than 1% and 3%.
BTC is subsequently up over 9% on the weekly time frame, while ETH rose 16% in the same period.
