On November 11, the trading volume of the iShares Bitcoin Trust ETF by BlackRock reached a historic high of $4.5 billion, according to Bloomberg analyst Eric Balchunas.
The Bitcoin Industrial Complex (ETFs + MSTR, COIN) saw $38b in trading volume today, lifetime records being set all over the place, incl $IBIT which did $4.5b, which points to a robust week of inflows. Just an insane day, it really deserves a name a la Volmageddon pic.twitter.com/rcOLs0MhNF
— Eric Balchunas (@EricBalchunas) November 11, 2024
The previous record was $4.14 billion, which preceded a maximum inflow of $1.12 billion into this product, while the sector as a whole saw a total volume of $1.38 billion.
Balchunas noted that this situation could be repeated, highlighting that the overall trading volume of Bitcoin reached $38 billion.
“Just a crazy day, it really deserves a name like ‘Volmageddon,'” commented Balchunas.
The surge in trading volumes coincided with the continued rally of Bitcoin, which hit a new historical high near $89,000.
On November 11, inflows into spot Bitcoin ETFs totaled $357.6 million, and the total trading volume set a new record at $7.3 billion.
Total inflows into spot Bitcoin ETFs since their approval in January have increased to $26.2 billion.
It’s worth noting that Bernstein analysts predict that if Donald Trump wins, Bitcoin could reach $80,000–90,000.
Earlier, analysts at the company recommended that investors “add crypto assets to their portfolios as soon as possible,” including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE, and LINK.
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