BlackRock’s iShares Bitcoin Trust (IBIT) has seen an impressive $2 million worth of shares traded during pre-market hours, according to Eric Balchunas, senior ETF analyst at Bloomberg. The most notable aspect is not only the substantial volume but also the timing: 6:00 am in the pre-market, which sets a promising tone for what could be a monumental day.
BlackRock’s iShares Bitcoin Trust (IBIT) has seen an impressive $2 million worth of shares traded during pre-market hours, according to Eric Balchunas, senior ETF analyst at Bloomberg. The most notable aspect is not only the substantial volume but also the timing: 6:00 am in the pre-market, which sets a promising tone for what could be a monumental day.
The SEC declared the registration statement for the BlackRock Spot Bitcoin ETF effective yesterday, along with the approval of 10 other applications. IBIT, designed to track the price of BTC, is set to begin trading on the Nasdaq today, adding a new dimension to the cryptocurrency investment landscape.
While the impressive initial volume indicates a good start, analysts remain cautious and speculate that this trading activity may be part of a carefully orchestrated plan by BlackRock, slowly loading the BYOA funds it had lined up.
As pre-market activity unfolds, iShares Bitcoin Trust (IBIT) is already making waves, trading up an impressive 23.21%, hitting $27.02 on the Nasdaq, according to data from Yahoo Finance. This initial momentum suggests a bullish start for the ETF on its debut day.
Rumors about BlackRock Bitcoin ETFs
According to industry sources, there is a possibility that BlackRock has already raised a staggering $2 billion in capital from Bitcoin holders eager to dive into the Bitcoin Spot ETF in its first week after launch. If these rumors turn out to be true, the $2 billion inflow would destroy all existing records for first-day and first-week ETF inflows.
The anticipation surrounding IBIT’s debut is palpable, with market participants eagerly awaiting the US stock markets to open in just over two hours.
