Editor's PiCK
"BlackRock IBIT, Potential to Break Record High Trading Volume Today"
Summary
- Eric Balchunas, Bloomberg's senior ETF analyst, stated that BlackRock's Bitcoin ETF, IBIT, could break its record high trading volume today.
- The trading volume of all Bitcoin ETFs could more than double, and capital inflows are also expected.
- Analyst Balchunas noted that a 'feeding frenzy' phenomenon is occurring and that the all-time high record triggers this trend.
An analysis suggests that the trading volume of BlackRock's Bitcoin (BTC) spot Exchange-Traded Fund (ETF) could break its record high.
Eric Balchunas, Bloomberg's senior ETF analyst, stated on the 22nd via X that "(BlackRock) IBIT is expected to record the second-highest trading volume today," adding that "there is also a possibility of breaking the record high depending on the situation." IBIT is BlackRock's Bitcoin spot ETF.
There is also a forecast that the trading volume of all Bitcoin ETFs could more than double today. Analyst Balchunas said, "The trading volume of all Bitcoin ETFs is on the rise, and most are expected to trade more than double the average," adding that "capital inflows are also expected to follow." He continued, "A typical 'feeding frenzy' phenomenon is occurring," and "the all-time high (ATH) record triggers this trend."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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