BlackRock's Bitcoin ETF Hits All-Time High with 12.6K BTC Amid Market Turbulence

Amidst Tuesday's market turbulence, the BlackRock iShares Bitcoin ETF (IBIT) demonstrated remarkable resilience, acquiring over $778 million worth of bitcoin (BTC). Investors seized the opportunity to "buy the dip," resulting in IBIT adding 12,600 bitcoin to its portfolio, surpassing previous daily acquisition records.

IBIT Trading Volumes Skyrocket: Nasdaq Data Shows Record 107 Million Shares Traded, Surpassing $3.6 Billion in Price-Weighted Volume

Trading volumes for IBIT soared, with Nasdaq data revealing over 107 million shares traded, equivalent to a price-weighted volume exceeding $3.6 billion. This surge surpassed the previous record of $3.3 billion set just last week, underscoring investors' confidence in the ETF despite market fluctuations.

IBIT Sees Influx of Funds Amid Bitcoin's Volatile Tuesday: From All-Time Highs to Rapid Downturn and Modest Recovery

The influx of funds into IBIT coincided with Bitcoin's rollercoaster ride on Tuesday. After briefly reaching a new all-time high of $69,000, Bitcoin experienced a rapid downturn, plummeting over 10% within minutes to dip below $60,000. However, the cryptocurrency managed a modest recovery, stabilizing around the $63,000 mark by the end of the U.S. trading day.

IBIT's Bitcoin Holdings Near MicroStrategy's as Most Popular Bitcoin ETF Surpasses $12 Billion in Assets Under Management

IBIT's bitcoin holdings now exceed 183,000, inching closer to MicroStrategy's stack of 193,000 BTC. Since its launch on January 11, IBIT has maintained its position as the most popular bitcoin ETF, with assets under management totaling approximately $12 billion, surpassing its competitors like Fidelity's FBTC, which holds $7.2 billion.

IBIT's Acquisition Surge Propels ETF Activity to Record $10 Billion Volumes, Surpassing Previous Week's High

The surge in IBIT's acquisitions contributed to a significant milestone in overall ETF activity, with volumes surpassing the $10 billion mark on Tuesday, exceeding the previous week's record.

In summary, despite market volatility, BlackRock's Bitcoin ETF demonstrated robust performance, attracting significant investments and consolidating its position as a leading player in the cryptocurrency ETF market.