Blackrock’s Bitcoin Etf Spot, Ibit, today recorded a huge $ 4.2 billion $ volume while the Bitcoin price has risen above $ 91,000 for the first time since the beginning of March. According to Barchart data, Ibit exchanged an incredible 81,098,938 shares, ending the trading session at the price of $ 52.08.
The surge in the ETF activity arrives on the same day when Bitcoin went up to $ 91,739, according to Bitbo. This marks the highest price level since 8 April, when Bitcoin touched a minimum of $ 75,603. The strong impulse on the top has renewed the purchase pressure on the market, in particular by institutional investment products such as ETF Spots.
Fidelity’s Etf Spot Bitcoin, FBTC, also saw a significant commercial activity, with a volume of $ 425.17 million. Meanwhile, Grayscale’s GBTC has recorded $ 250.91 million, the ARK Invest Etf recorded $ 170 million and Betwise’s Fund exchanged $ 120 million during the day.
At the beginning of the day, Blackrock’s Ibit also reached a historical maximum when measured against the Nasdaq index, a noteworthy milestone that indicates the growing strength and trust of investors in the bottom and Bitcoin.
Days of high volume trading like this in which the price of BTC often increases strong influence. However, the official data for net affluent and deceased for today’s ETF activity will not be available until late tonight as the asset managers advertise them.
As Bitcoin’s price continues to be trendy upwards and the ETF products show strong volumes of trading, the market is now modeled not only by the speculation of investors, but also by the fundamental demand by company and institutional buyers. The impact of regulated financial products such as ETF spot is amplified by a growing wave of corporate adoption.
In addition to the institutional interest through ETF, public companies are increasingly transforming themselves to Bitcoin as a reserve activities. Michael Saylor’s strategy continued to aggressively acquire BTC, recently announcing the purchase of 6,556 other coins. Semer Scientific also joined the trend, reaching over 1,100 BTC in participation and recently filed to collect other $ 500 million to buy more. Gamestop is also preparing to enter the market, having collected $ 1.5 billion for a strategy of the Bitcoin treasure nicknamed “Project Rocket”. These corporate moves are injecting a further demand in the market, further contributing to the upward momentum.
Together, the increase in the activity of the ETF and the increase in corporate adoption seem to form a powerful cycle of feedback, helping to push Bitcoin price to the new highs. While the final data for the trading of the ETF of today will arrive later tonight, the combined impact of the institutional purchase and budgetary strategies from companies listed on the stock exchange is strengthening the status of Bitcoin both as an investment activities and in a long -term value shop.