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BlackRock Bitcoin ETF Hits $4.1B Trading Record
- The BlackRock Bitcoin ETF, iShares Bitcoin Trust (IBIT), hit a new trading volume record of over $4.1 billion on November 6th.
- The ETF saw its second-best trading day, surging 10% in price
- Many other Bitcoin ETFs also saw higher-than-usual trading volumes, nearly double their daily average.
- Donald Trump’s re-election, along with his pro-crypto policies, is believed to have brought more attention to Bitcoin as an investment option.
- Bitcoin price also hit a new high of $76,500 due to a rush of buying activity from investors who saw Trump’s re-election as a positive sign for crypto
- As more investors look to add Bitcoin to their portfolios, funds like BlackRock’s Bitcoin ETF are enjoying increased attention
- Experts believe that Trump’s presidency will strengthen the position of Bitcoin and other cryptocurrencies. Hence, many fund managers have submitted applications for ETFs holding altcoins
- The demand for crypto is stronger than ever with Trump’s pro-crypto approach, indicating a bright future for Bitcoin and digital assets in general.
- The bullish signs for Bitcoin had experts predicting that Bitcoin may hit $100k before Trump takes his Oath of Office on January 20th.
- The demand for crypto is high, but it is a high-risk investment; please be cautious while investing.
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