With Donald Trump’s return to the U.S. presidency, spot Bitcoin ETFs have surged, led by BlackRock’s iShares Bitcoin Trust (IBIT), which recorded massive trading volumes. This development highlights a significant increase in investor interest, suggesting a promising future for Bitcoin and the crypto market under the Trump administration.
Trump’s re-election has created ripples across the financial markets, with spot Bitcoin ETFs experiencing a notable wave of growth. On Wednesday, November 6, BlackRock’s iShares Bitcoin Trust (IBIT) reached a record daily trading volume of $4.1 billion, surpassing Wall Street giants like Visa and Berkshire Hathaway. This remarkable surge underscores the rapid shift in investor interest towards Bitcoin ETFs.
BlackRock’s Bitcoin ETF Breaks Records
BlackRock’s iShares Bitcoin Trust (IBIT) stole the spotlight with a single-day trading volume of $4.1 billion, overtaking major companies like Visa, Berkshire Hathaway, and Netflix. IBIT also recorded a 10% increase in value, marking its second most successful performance since its launch, instilling confidence among investors. Bloomberg’s ETF strategist, Eric Balchunas, noted that such high volumes could spur new investments, emphasizing the growing popularity of Bitcoin ETFs.
Rising Interest in Bitcoin ETFs
In the U.S., a total of nine Bitcoin ETFs saw a combined trading volume of $6 billion, shattering previous records. With many ETFs trading at double their daily average, it’s clear that investor interest in cryptocurrencies is growing rapidly. Balchunas called this milestone a pivotal moment for the young ETF category, signaling a significant shift in the investment world.
Fidelity’s Bitcoin ETF Leads in Inflows
Fidelity’s Bitcoin ETF (FBTC) attracted over $300 million in new investments, drawing significant attention. While Ark Invest’s ARKB, Bitwise’s BITB, and Grayscale’s mini ETF also saw notable inflows, BlackRock’s IBIT experienced an outflow of $68 million. This shift suggests that investors are taking strategic steps toward a diversified approach in their portfolios.
The Future of Crypto Under the Trump Era
Donald Trump’s inauguration in January 2025 could mark a new chapter for Bitcoin and the broader crypto market. Analysts believe Trump’s administration may introduce policies that provide a strong boost for the sector. Notably, Bitcoin strategist Dylan LeClair speculated that the U.S. could set a legal framework for accumulating Bitcoin as a strategic reserve asset, potentially inspiring other nations to follow suit.
Recently, Bitcoin maintained its position above $75,000, reaching an all-time high. As investors look ahead to Thursday’s FOMC meeting, there’s growing anticipation that a potential 25-basis-point rate cut by the Fed could push Bitcoin closer to the $100,000 mark. This momentum is creating new opportunities for investors and could shape the future of the markets.
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