BlackRock Bitcoin ETF Sees Record-breaking $5B Turnover Amid BTC All-Time High Surge

BlackRock’s Bitcoin ETF has seen a record-breaking single-day turnover of $5 billion amid Bitcoin’s ongoing spectacular price rallies.

Bitcoin reached a new all-time high on November 13, hitting $93,477 during late trading. This milestone was accompanied by unprecedented activity in the Bitcoin exchange-traded funds (ETFs) market.

In a post on X, Bloomberg analyst Eric Balchunas revealed that the iShares Bitcoin Trust (IBIT), managed by BlackRock, recorded a $5 billion daily trading volume on Wednesday, surpassing its previous record. 

Balchunas noted that only three other ETFs and eight individual stocks saw higher volumes on that day. Over a three-day period, IBIT amassed $13 billion in trading activity, signaling a substantial rise in investor interest.

Other Bitcoin ETFs, such as Fidelity’s FBTC, also saw notable increases in trading volumes, though on a smaller scale.

Meanwhile, the broader Bitcoin ecosystem has also experienced a surge, with weekly trading volumes hitting $110 billion — an all-time record — with two days still remaining in the trading week.

Spot-Driven Rally and Record Weekly Volumes

The surge in ETF volumes has been attributed to a spot-driven rally, with data showing a muted increase in CME open interest. 

Santiment also highlighted that Bitcoin’s seven largest ETFs collectively saw $8.21 billion in trading volume on November 13, the highest since the March 14 peak when Bitcoin reached $73,700.

According to Santiment, this heightened activity reflects a strong polarity between buyers and sellers. It noted that the current peak may represent a temporary top if historical patterns hold.

BlackRock ETF Leads Inflows 

In terms of inflows, BlackRock’s ETF continued to dominate. On November 12, it attracted $778.3 million, significantly outpacing its peers. The following day, IBIT added another $230.8 million. In comparison, Fidelity’s FBTC saw $37.2 million in inflows on November 12 and $186.1 million on November 13. 

Other ETFs, including Bitwise’s BITB and ARK’s ARKB, reported smaller inflows over the same period. Year-to-date inflow data shows IBIT leading with $29.15 billion, followed by FBTC at $11.12 billion. 

Goldman Sachs’ Exposure to BlackRock Bitcoin ETF

In related news, Goldman Sachs has emerged as a significant player in the Bitcoin ETF market. According to recent SEC filings, the bank holds approximately $418.65 million in Bitcoin ETFs. Its largest position is in IBIT, where it owns nearly 7 million shares valued at $238.6 million. 

The bank also reported holdings in several other Bitcoin ETFs, including Fidelity’s Wise Origin Bitcoin Fund and Invesco’s Galaxy Bitcoin ETF. Collectively, these investments underscore Goldman Sachs’ broad-based approach to Bitcoin exposure. Smaller positions in ETFs such as the WisdomTree Bitcoin Fund and ARK’s 21Shares Bitcoin ETF further diversify its portfolio.