BlackRock's spot Bitcoin exchange-traded fund (ETF), traded on Nasdaq under the ticker IBIT, gained 3.49% last week, marking a reversal in its four-week decline in trading volumes.
Key Highlights
- Volume Surge: 210.02 million shares traded (week ending June 27), up 22.2% from the previous week’s 171.74 million.
- Net Inflows: IBIT attracted $1.31 billion last week, continuing its strong demand with $3.74 billion cumulatively this month.
- Market Trend: U.S. spot Bitcoin ETFs collectively saw over $4 billion in inflows this month—the third straight monthly gain.
Technical Analysis
IBIT’s chart reveals a bull flag pattern, mirroring Bitcoin’s bullish continuation signal. A confirmed breakout could extend the rally from April lows (~$42.98).
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FAQs
What caused IBIT’s trading volume to rise?
Increased investor confidence and broader market optimism drove higher activity, reflected in the 22.2% weekly volume growth.
How does IBIT compare to other Bitcoin ETFs?
IBIT leads with $3.74 billion in June inflows, contributing significantly to the $4+ billion total across all U.S. spot Bitcoin ETFs.
What does the bull flag pattern indicate?
This technical formation suggests potential upward momentum, aligning with Bitcoin’s recent price trends.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Always conduct independent research or consult a qualified professional before making investment decisions.
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**Keywords**: Bitcoin ETF, IBIT, BlackRock, trading volumes, bull flag, net inflows, spot BTC, institutional demand
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