BlackRock Spot Bitcoin ETF Surpasses $11bn AUM in Record Trading Day

It seems Bitcoin’s rally does not stop as it breaks records in Australia and elsewhere, with interest in Spot Bitcoin ETFs showing no sign of slowing down.

Trading volumes in these ETFs seem to have stabilised at levels twice those of previous weeks.

Monday saw the second biggest trading volume for the ten ETFs. Wednesday US Time the record was set (at least for now) at a combined daily trading volume of USD $6 billion (AUD $9.27 billion) for the nine ETFs— excluding Grayscale; if included, the figure nearly reached USD $8 billion (AUD $12.29 billion).

IBIT Fastest Growing Among Large AUM-ETFs

The most recent trading day (Monday) had USD $5.5 billion (AUD $8.45 billion) in volume while the largest ETF, BlackRock’s IBIT saw USD $2.4 billion (AUD $3.68 billion), now crossing USD $11 billion (AUD $16.9 billion) in assets under management (AUM).

Bloomberg Senior ETF Analyst Eric Balchunas said the ten are likely to reach $40bn (USD $61.5bn) AUM in a matter of days, which brings them halfway to the AUM of gold ETFs in just two months.

Related: Judge Rules Crypto Assets Are Securities, Even When Traded on Exchanges

Balchunas added that out of 3,400 ETFs only 152 ETFs have AUM of USD $10 billion, and IBIT is the fastest to ever get there.

Competitor Fidelity also had a strong day with USD $400 million (AUD $615 million) as Balchunas reported:

Meanwhile In Australia

Meanwhile here in Australia, Bitcoin probably thought anything they can do, I can do better. BTC is putting in records against the Australian dollar, currently trading at an unprecedented AUD $104,733 at the time of writing, after breaking through the 105k mark earlier.