BlackRock’s spot Bitcoin Exchange Traded Fund (ETF) reportedly saw its highest-ever daily trading volume as investors reacted to the rapidly falling price of Bitcoin.
The iShares Bitcoin Trust ETF (IBIT) “broke its intraday volume record on Thursday,” trading $10 billion in shares, says Bloomberg ETF analyst Eric Balchunas he said on X
Balchunas added that IBIT fell 13% that day, “the second worst daily price drop since launch,” and the largest daily price drop occurred on May 8, 2024, by 15%.
On Wednesday, IBIT reported net outflows totaling $373.4 million, with the ETF reporting just 10 trading days of net inflows so far in 2026. The ETF has struggled to maintain a steady stream of inflows since the cryptocurrency market crashed in early October as the price of Bitcoin (BTC) continues to fall.
Bitcoin fell 12% in the last 24 hours to $64,000, climbing after hitting a low of $60,300. According to CoinGecko, the cryptocurrency is down about 50% from an all-time high of around $126,000 in early October data.
IBIT followed a similar pattern, peaking at nearly $70 in early October and has since fallen about 48% to close at $36.10 at the close of Thursday’s session.
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Bob Elliott, chief investment officer at Asset Management Unlimited Funds, said Sunday that the average dollar invested in IBIT is now lower as of Friday’s market close, marking another painful day for the fund.
BTC’s latest crash follows the market’s reaction to tender data from the US labor market and growing concerns about the involvement of significant capital in the artificial intelligence sector.
Analysts such as veteran trader Peter Brandt argued that the carnage may not be over, noting on Wednesday that Bitcoin is showing “campaign selling fingerprints” with few buyers stepping in to prop up the price.
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