BlackRock’s Bitcoin ETF Added a Record 12.6K BTC in Tuesday's Carnage

IBIT added 12,600 bitcoin, breaking previous daily highs of around 10,000. Data from Nasdaq show that the fund recorded trading volumes of more than 107 million shares, or over $3.6 billion price-weighted, surpassing the previous record high of $3.3 billion from last week.

The big inflows came as bitcoin early Tuesday shot to a new all-time high of $69,000 only to sharply reverse within minutes. The price tumbled more than 10% at one point to below $60,000, before a modest recovery to the $63,000 area late in the U.S. trading day.IBIT has remained the most popular bitcoin ETF since the products went live on Jan. 11. Its assets under management are now about $12 billion, the most among its counterparts, followed by Fidelity’s FBTC at $7.2 billion.

Bitcoin trades just under $66,000 as of U.S. morning hours on Wednesday, down nearly 3% in the past 24 hours. The CoinDesk 20 , a broad-based liquid index, lost 5.8% over the same period.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

Source: News Formal (newsformal.com)

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