After Donald Trump was elected as the 47th President of the USA, BlackRock Bitcoin ETF (IBIT) trading volume exceeded that of major stocks like Visa and Berkshire Hathaway.
IBIT Trading Volume Exceeds $621M
On the election day, IBIT's trading volume reached $621 million, marking its highest since launch. This was driven by significant spot Bitcoin ETF inflows following Trump's victory on November 6.
Growing Interest in Bitcoin ETF
Following Trump's victory, IBIT shares increased by 10%, marking the second-best performance since its launch. On election day, all nine US Bitcoin ETFs performed exceptionally well, with total trading volume surpassing $6 billion.
Market Projections and Reaction
Analysts predict further surges in Bitcoin ETF inflows as Trump takes office in January. BTC hit over $76,000, reflecting sustained investor interest in cryptocurrencies.
The cryptocurrency market continues to attract investors amid political changes in the US and expectations of future economic policy.
