CoinWorldNet reports:
After Trump’s election, BlackRock’s IBIT achieved exponential growth in trade volume, with transactions exceeding $4.1 billion on November 6. Bloomberg’s senior ETF analyst Eric Balchunas noted that IBIT’s trading volume increased by 10%, surpassing the trading volumes of stocks such as Berkshire Hathaway, Netflix, or Visa.
BlackRock’s IBIT is the second-best performer since launch
Shortly after Donald Trump was elected, BlackRock’s Bitcoin ETF reached a historic high in trading volume. The ETF’s transaction volume exceeded $4.1 billion, surpassing the transaction volumes of some other stocks.
Eric Balchunas, in a post on X, described this incredible achievement as IBIT’s “biggest trading volume day ever.” He said:
It also rose by 10%, which marks the second-best day since its launch. Some of this will translate into inflows, which might appear on Tuesday or Wednesday evening.
-Eric Balchunas
Source: Eric Balchunas’s post on X
BlackRock is not the only ETF trader with astonishing trading volumes. According to Balchunas, Bitcoin ETFs had a combined transaction volume of $6 billion overall, marking the highest level since the “crazy early days” in January. He added that most of these ETFs’ trading volumes were double the average, keeping these ETFs in turmoil throughout the day.
Even the price of Bitcoin surged, reaching an all-time high of $76,500 on November 6. Currently, Bitcoin is trading at $74,802, slightly down by 2.2% from the previous day’s peak.
Trump’s victory leads to a decline in some iShares ETFs
Following Trump’s victory and his promise to implement favorable cryptocurrency policies, crypto analysts remain optimistic about the gains of other U.S. digital assets, not just Bitcoin.
However, some popular iShares ETFs in South Korea, Hong Kong, **, and Chile fell on Wednesday, even as major U.S. indices soared to historical highs. This indicates that while the U.S. cryptocurrency market may thrive, this might not apply to international markets.
Besides the global cryptocurrency market, all other stocks might be affected, especially since the president-elect has promised to impose taxes on all imports, particularly those from China.
Mong Yu Ma, Chief Investment Officer at BMO Wealth Management, stated that although the investment outlook in the U.S. remains optimistic, global markets are still particularly vulnerable to tariff policies, which could hinder the rise of international stock markets in the short term.
