BlackRock's Bitcoin ETF IBIT Hit $4.2 Billion in Trading Volume as Bitcoin Price Surpasses $91,000
BlackRock's spot Bitcoin ETF, IBIT, recorded a massive $4.2 billion in trading volume today as the price of Bitcoin soared above $91,000 for the first time since early March. According to data from Barchart, IBIT traded a staggering 81,098,938 shares, ending the trading session at a price of $52.08.
The surge in ETF activity comes on the same day Bitcoin climbed to $91,739, according to Bitbo. This marks the highest price level since April 8, when Bitcoin hit a low of $75,603. The strong upward momentum signals renewed buying pressure in the market, particularly from institutional investment products like spot ETFs.
Fidelity's spot Bitcoin ETF, FBTC, also saw significant trading activity, with $425.17 million in volume. Meanwhile, Grayscale's GBTC posted $250.91 million, Ark Invest's ETF recorded $170 million, and Bitwise's fund traded $120 million over the day.
Earlier in the day, BlackRock's IBIT also reached an all-time high when measured against the Nasdaq index, a noteworthy milestone indicating the growing strength and investor confidence in the fund and Bitcoin.
High-volume trading days such as this where the price of BTC surges up often reflects strong inflows. However, the official figures for net inflows and outflows for today's ETF activity will not be available until later this evening as the wealth managers publicize them.
As Bitcoin's price continues to trend upward and ETF products show strong trading volumes, the market is now being shaped not just by investor speculation, but also by fundamental demand from corporate and institutional buyers. The impact of regulated financial products like spot ETFs is being amplified by a growing wave of corporate adoption.
In addition to institutional interest via ETFs, public companies are increasingly turning to Bitcoin as a reserve asset. Michael Saylor's Strategy has continued to aggressively acquire BTC, most recently announcing the purchase of 6,556 more coins. Semler Scientific has also joined the trend, reaching over 1,100 BTC in holdings and recently filing to raise another $500 million to buy more. GameStop is preparing to enter the market as well, having raised $1.5 billion for a Bitcoin treasury strategy dubbed 'Project Rocket.' These corporate moves are injecting additional demand into the market, further contributing to upward price momentum.
Together, the surge in ETF activity and rising corporate adoption appear to be forming a powerful feedback loop, helping to push Bitcoin's price to new highs. While final inflow data for today's ETF trading will arrive later this evening, the combined impact of institutional buying and balance sheet strategies from publicly traded companies is reinforcing Bitcoin's status as both an investment asset and a long-term store of value.
READ SOURCE
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Cathie Wood buys $373M of hot tech stock
Cathie Wood buys $373M of hot tech stock originally appeared on TheStreet. On June 5, Cathie Wood's investment firm, ARK Invest, bought around 4.48 million shares of Circle Internet Group (NYSE: CRCL) on the day of its public debut. ARK Invest invested in the stablecoin issuer's 4.48 million shares valued at $373 million on its debut day, as per the stock's closing price of $83.23. The investment firm also trimmed the shares of other crypto stocks from its portfolio on the same day. It offloaded $39 million in the shares of Coinbase, the largest crypto exchange in the U.S. The firm also shed $18.5 million in the shares of the crypto and stock trading exchange Robinhood Markets (Nasdaq: HOOD). $10.4 million in Jack Dorsey's Block, Inc. (Nasdaq: XYZ) shares are also among the shares unloaded by ARK Invest. The tech and financial services company has integrated Bitcoin into several of its applications, such as Cash App and Bitkey. Cathie Wood's investment company is well-known for investing in forward-looking tech stocks such as AI, crypto, fintech, etc. As reported earlier, ARK Invest had already indicated its plan to purchase Circle shares. Circle is a popular crypto firm that issues USDC, a stablecoin pegged to the U.S. dollar. A stablecoin is a type of cryptocurrency that aims to maintain a stable price, unlike traditionally volatile cryptocurrencies like Bitcoin. The stablecoin issuer made a spectacular debut on the NYSE yesterday, opening at $69 apiece against the IPO price of $31. The total crypto market cap dipped 1.7% in a day to $3.24 trillion at the time of writing. Bitcoin, the largest cryptocurrency, was trading at $103,970.46 at press time as per Kraken, down 1.3% a day. Cathie Wood buys $373M of hot tech stock first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared.
Yahoo
an hour ago
- Yahoo
U.S. Added 139K Jobs in May, Roughly In Line With Forecasts
U.S. labor market growth continued to modestly slow in May, but not enough to force a rise in the unemployment rate. Nonfarm payrolls grew 139,000 last month, according to the a report Friday from the Bureau of Labor Statistics. Economist forecasts called for gains of 130,000 and April's job growth was 147,000 (revised from an originally reported 177,000). The unemployment rate for May was 4.2% against expectations for 4.2% and April's 4.2%. In the midst of a strong rebound following yesterday's sharp declines, the price of bitcoin BTC rose a small bit further following the news to just above $104,000. Always a closely-followed print, the May payrolls data was of particular import this time around as a string of economic reports this week pointed to growing economic weakness. Among them were the slowest ADP jobs growth in more than two years, ISM Services slipping into levels suggesting economic contraction and a rise in initial jobless claims to the highest level since October. Nearing 4.50% as the week began, the 10-year U.S. Treasury yield slipped to as low as 4.32% and the odds of a summer Fed rate cut(s) had risen appreciably ahead of this morning's report. In the minutes after the print, the 10-year yield shot back up to 4.44% and the odds of a July Fed rate cut tumbled to just 16% from 30%, according to CME FedWatch. Looking further out, the odds of one or more rate cuts by the Fed's September meeting fell to 65% from 75%. U.S. stock index futures added to earlier gains, the Nasdaq ahead 0.8% and S&P 500 0.75%. Checking other report details, average hourly earnings rose 0.4% in May against estimates for 0.3% and April's 0.2%. On a year-over-year basis, average hourly earnings were higher by 3.9% versus forecasts for 3.7% and April's 3.9%.
Wall Street Journal
2 hours ago
- Wall Street Journal
The Future Ain't What It Used to Be for These Funds
With their words, the managers of private assets are telling investors that the best is yet to come. With their actions, they're suggesting the glory days already may be ending. Giant firms like Apollo, BlackRock, Blackstone, Capital Group, KKR, State Street and Vanguard Group are all rushing to get individual investors to buy 'alternatives,' including hedge funds, venture capital, and nontraded debt, equity and real estate.
