• BlackRock’s Bitcoin ETF, iShares Bitcoin Trust (IBIT) dominated inflows as Bitcoin reached a new all-time high, with record trading volumes across all US spot Bitcoin ETFs.
• Despite the price volatility, investor interest in Bitcoin through regulated ETFs remains strong.

BlackRock’s iShares Bitcoin Trust (IBIT) shattered its previous record for daily inflows on Tuesday, coinciding with Bitcoin reaching a new all-time high above $69,000. This surge in investor interest highlights the growing demand for regulated Bitcoin exposure through exchange-traded funds (ETFs).

IBIT Surges Ahead, Grayscale GBTC Sees Outflows

IBIT raked in a record $788.3 million, eclipsing both its own previous record and the combined daily inflows of all other US spot Bitcoin ETFs on the same day. This robust inflow comes despite continued outflows from Grayscale’s Bitcoin Trust (GBTC), which has seen a net outflow of $9.6 billion since the launch of spot Bitcoin ETFs in January.

Read: Analysis: Is Bitcoin’s Meteoric Rise Here to Stay, This Time?

Record Trading Volumes for Spot Bitcoin ETFs

Fueled by the price volatility and investor interest, trading volume for US spot Bitcoin ETFs also hit a record of nearly $10 billion on Tuesday. IBIT led the pack with a record $3.76 billion in daily volume, followed by Grayscale’s GBTC and Fidelity’s FBTC.

Also Read: Bitcoin Reaches Two-Year High: Five-Day Rally Fueled by ETPs and Halving Event Nears

Bitcoin Breaks Record But Faces Volatility

Bitcoin finally surpassed its previous all-time high, reaching $69,325, after nearly two and a half years. However, the price quickly retraced, dropping over $10,000 within minutes. While Bitcoin has since recovered, this episode highlights the inherent volatility associated with the cryptocurrency market.