BlackRock’s spot bitcoin ETF posts $10 billion daily volume record as BTC records major intra-day decline: Bloomberg

Core Insights - BlackRock's iShares Bitcoin Trust (IBIT) has achieved a record single-day trading volume of $10 billion, despite a significant price drop of 13% on the same day, marking its second-worst daily price decline since launch [2][4] - The previous volume record for IBIT was approximately $8 billion, set on November 21, indicating a substantial increase in trading activity [3] - The fund typically sees daily trading volumes of a few billion dollars, with $3 billion considered a busy day [3] Market Context - The broader cryptocurrency market is experiencing a downturn, with the total market capitalization decreasing from over $3 trillion at the end of January to about $2.16 trillion currently [5] - Bitcoin experienced a significant intraday drop, falling nearly 15% from approximately $73,100 to a low near $62,400, marking the first time it has fallen below $70,000 in 15 months [4] - Among major cryptocurrencies, XRP was the worst performer on a recent Thursday, declining about 25%, while TRON fared better with only a 4% drop [5] Fund Performance - IBIT is the largest spot bitcoin ETF, currently holding about $56 billion in assets [6]