Bitcoin bounces back as BlackRock registers $1 billion in trading volume

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Quick Take

On Aug. 5, Bitcoin dropped to as low as $49,000, rebounded, then fell again. However, as the US market opened, the price of digital assets began to recover, reaching around $52,000.

In parallel to Bitcoin’s market movements, BlackRock’s IBIT saw remarkable trading activity, registering over $1 billion in volume within the first 30 minutes of trading. This performance places IBIT in the tenth spot among traditional ETFs, just above IVV with $930 million in volume and slightly below HYG with $1.07 billion, according to Coinglass.

Bitcoin ETF Overview: (Source: Coinglass)

Grayscale’s GBTC and Fidelity’s FBTC also demonstrated significant trading volumes, recording $160 million and $219 million, respectively. According to Coinglass, the total trading volume for Bitcoin ETFs reached $1.71 billion within the first 30 minutes of trading.

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