BlackRock's iShares Bitcoin Trust (IBIT) Records Impressive Pre-Market Trading Volume

IconCryptoNewsTerminal Staff16 Jul, 2024

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BlackRock's iShares Bitcoin Trust (IBIT) Records Impressive Pre-Market Trading Volume

BlackRock, the world's largest asset manager, has made a significant entry into the cryptocurrency market with its inaugural spot Bitcoin ETF, iShares Bitcoin Trust (IBIT). According to pre-market data from TraderT, IBIT recorded a remarkable pre-market trading volume of $29 million. This substantial inflow indicates strong institutional interest in Bitcoin and underscores the growing recognition of digital assets as a legitimate investment class. IBIT's pre-market performance sets the stage for a potentially successful launch when it begins trading on the New York Stock Exchange (NYSE) later today. The ETF's listing on a major exchange will provide convenient access to Bitcoin for a broader range of investors, potentially driving further adoption and liquidity in the cryptocurrency market.

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