BlackRock’s IBIT posts as much as $18 billion in daily trading volume — double Coinbase

JH Kim

Summary

BlackRock’s spot Bitcoin ETF IBIT was reported to have posted daily trading volume of $16 billion to $18 billion.
This was reported to be more than double Coinbase’s daily trading volume of $6 billion to $8 billion and comparable in scale to Binance spot trading volume.
The outlet said regulated financial products are emerging as a competitive alternative to traditional cryptocurrency exchanges, and that the structure of institutional inflows is changing around spot Bitcoin ETFs.

Forecast Trend Report by Period

BlackRock’s spot Bitcoin (BTC) ETF, IBIT, is posting massive trading volume and expanding its influence on the market.

On the 2nd (local time), Unfolded, citing Kaiko data, reported that IBIT’s daily trading volume reached roughly $16 billion to $18 billion.

That is more than double Coinbase’s daily trading volume ($6 billion to $8 billion) and is comparable in size to Binance’s spot trading volume.

The outlet said, “This trend shows that regulated financial products are establishing themselves as a competitive alternative to traditional cryptocurrency exchanges.”

The market is paying close attention to signs that the structure of institutional inflows is gradually shifting around spot Bitcoin ETFs.