IBIT Sets New Trading Volume Milestone at $10B During Bitcoin Market Turbulence
BlackRock's iShares Bitcoin Trust ETF experienced heightened trading activity on Thursday amid a steep 12% decline in Bitcoin's value over a 24-hour period.
The spot Bitcoin exchange-traded fund (ETF) operated by BlackRock has reached an unprecedented daily trading volume milestone as market participants reacted to the cryptocurrency's sharp price decline.
According to Bloomberg ETF analyst Eric Balchunas, who shared the information on X, the iShares Bitcoin Trust ETF (IBIT) "crushed its daily volume record" during Thursday's trading session, recording $10 billion in total share transactions.
The ETF experienced a 13% decline that day, marking its "second-worst daily price drop since it launched," Balchunas noted. The fund's most severe single-day percentage loss remains at 15%, which occurred on May 8, 2024.
Data from Wednesday showed IBIT recording net outflows amounting to $373.4 million, bringing its total number of trading days with net inflows to just 10 throughout 2026. The ETF has faced challenges maintaining a steady flow of incoming capital following a digital currency market downturn in early October, as the valuation of Bitcoin (BTC) continues its downward trajectory.
Over the preceding 24 hours, Bitcoin fell by 12% to reach $64,000, recovering after touching a bottom of $60,300. Based on CoinGecko data, the digital asset has experienced approximately a 50% decline from its record high of roughly $126,000 achieved in early October.
The trajectory of IBIT has mirrored this pattern, reaching its apex near $70 in early October before declining approximately 48% to close at $36.10 at Thursday's market close.
Investment chief Bob Elliott of asset management firm Unlimited Funds stated on Sunday that the typical dollar invested into IBIT has now fallen into negative territory as of Friday's market close, representing another difficult trading session for the fund.
The recent BTC price collapse is occurring as markets digest disappointing US employment data and mounting worries regarding the significant capital investments flowing into the artificial intelligence industry.
Market analysts, including experienced trader Peter Brandt, have suggested the downturn may continue, observing on Wednesday that Bitcoin is displaying "fingerprints of campaign selling" with limited buyer interest emerging to support the price.