BlackRock’s Bitcoin ETF Surpasses Berkshire, Visa, Netflix Volumes As Trump Election Victory Triggers A Buying Frenzy
BlackRock’s spot Bitcoin ETF (exchange-traded fund) surpassed Berkshire Hathaway, Netflix, and Visa in trading volume yesterday after Donald Trump’s US election victory triggered a buying frenzy. Bloomberg ETF analyst Eric Balchunas said in a Nov. 6 post on X that the fund witnessed its “biggest volume day ever” after trading activity soared to $4.1 billion on Nov. 6. The price of the investment product “was also up 10%, its second-best day since launching, “ he added. BlackRock’s Bitcoin ETF Not The Only Fund To Record A Volume Surge BlackRock’s spot Bitcoin ETF was not the only US investment product of its kind to experience one of its best days. Most of the other funds did two times their average trade volumes as well, according to Balchunas. The surge in spot Bitcoin ETF volumes followed shortly after BTC recorded a new all-time high of $76,460.15 during yesterday’s trading session. It has since dropped a little over 2% from its peak to trade at $74,954.49 as of 3:39 a.m.