Daniel Walker
On U.S. presidential election day, when pro-crypto candidate Donald Trump reclaimed the White House, BlackRock’s iShares Bitcoin Trust (IBIT) logged its highest single-day trading volume to date.
This surge was unprecedented, with Bloomberg Senior ETF Analyst Eric Balchunas noting on X that the volume surpassed daily trading seen in major stocks like Berkshire Hathaway, Netflix, and Visa. Within just 20 minutes of the market opening, IBIT had already generated $1 billion in trading volume following Trump’s election win.
IBIT wasn’t the only fund to see massive interest; other spot BTC ETFs collectively saw $6 billion in daily trading volume, the highest since March. “Most of the ETFs did twice their usual daily volume. An outstanding day for this fast-evolving category,” commented Balchunas. Across the 12 Bitcoin ETFs, net inflows reached $621.9 million on Wednesday alone. Fidelity’s FBTC led with $308.7 million, while funds from Ark, 21Shares, Bitwise, and Grayscale each saw inflows exceeding $100 million. Grayscale’s GBTC and VanEck’s HODL also benefited from net positive inflows.
BlackRock Bitcoin ETF data – Nov 6
Notably, IBIT itself had net outflows totaling $69 million, despite recording $2.1 billion in net inflows last week—its second-largest weekly inflow ever. The cumulative net inflows for the 12 funds reached $24.1 billion. Nate Geraci, president of the ETF Store, suggested that the daily net inflows for spot BTC ETFs could top $1 billion before the week concludes.
Spot Ether ETFs also saw gains, reporting $52.2 million in net inflows yesterday, with funds from Grayscale and Fidelity’s FETH showing strong performance.
Trump’s election victory over Kamala Harris, where he secured 295 electoral votes to Harris’s 226, spurred a market-wide rally, lifting Bitcoin to a new all-time high of over $75,350. As of now, BTC is trading at around $74,776. Trump, now set to start his second term, has vowed to replace SEC Chair Gary Gensler, establish a crypto advisory council, and position the U.S. as a leader in Bitcoin mining, signaling potential policy shifts favorable to the digital asset market.
