BlackRock's IBIT Hits Record Volumes as Bitcoin Breaks $80K
IBIT sits 37% above its 52-week low of $32.84 on light trading volume (0.2× avg).
Summary
BlackRock's spot Bitcoin ETF (IBIT) saw record trading volumes last week as Bitcoin surged 23% to $80,000. IBIT shares jumped 22.59% to $43.68, their best weekly performance since February 2024, with net inflows of $1.33 billion. BlackRock's head of digital assets, Robbie Mitchnick, attributed the strength to growing investor conviction and a bullish macro outlook driven by debt and deficit concerns. The fund now holds $63 billion in investor capital, reinforcing BlackRock's dominant position in the crypto ETF space. This follows the June launch of spot Bitcoin ETFs and the recent filing for a Bitcoin Premium Income ETF, signaling continued expansion in digital assets.
At the time of this announcement, IBIT was trading at $44.91 on NASDAQ in the Crypto Assets sector. The 52-week trading range was $32.84 to $71.82. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: CryptoProwl.