BlackRock’s Spot Bitcoin ETF IBIT Sees 3.49% Rise in Trading Volume
BlackRock's spot bitcoin ETF, IBIT, listed on Nasdaq, rose 3.49% last week, breaking a four-week downtrend in trading volumes.
- 210.02 million shares traded in the week ending June 27, a 22.2% increase from the previous week's volume of 171.74 million shares.
- This marks the first weekly growth since mid-May.
- IBIT recorded a net inflow of $1.31 billion last week, up from $1.23 billion the prior week.
- The ETF has accumulated $3.74 billion in investments this month.
- All 11 U.S. spot ETFs combined have seen over $4 billion in net inflows this month, continuing a three-month trend of monthly inflows.
The IBIT chart indicates the formation of a bull flag, suggesting a potential continuation pattern similar to the spot BTC price chart. A confirmed breakout could extend the current bull run from early April lows near $42.98.