SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
Qualcomm Nears $4 Billion Acquisition of AI Chip Startup Modular 
Google Gemini Co-Lead Noam Shazeer Leaves for OpenAI Amid AI Talent Race 
Trump Says Anthropic No Longer Seen as National Security Threat 
Trump’s Quantum Push Lifts IBM Stock as CEO Arvind Krishna Receives White House Praise 
SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
SK Hynix Overtakes Samsung as South Korea’s Most Valuable Company 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
Apollo Debt Solutions Limits Redemptions as Withdrawal Requests Surge 
Oracle Cuts 21,000 Jobs as AI Reshapes Workforce and Cloud Expansion Accelerates 
In a landmark moment, BlackRock’s Bitcoin ETF shattered expectations by logging $1 billion in trades within 20 minutes, a “crazy” level according to Bloomberg analysts. As Bitcoin’s price rallies, IBIT’s record-breaking volume signals surging interest in the crypto space.
BlackRock's Bitcoin ETF Shatters Trading Volume Records
In under 20 minutes of trading, the iShares Bitcoin Trust ETF (IBIT) from BlackRock reached a record-breaking $1 billion in value, according to renowned ETF analyst Eric Balchunas.
Balchunas claims that coming Wednesday, the soaring ETF product will establish a new volume record.
High Volume Without a Major Sell-Off
Per U.Today, strong trading activity often follows large sell-offs in ETFs. But it seems like that won't be the case this time.
Due to the dramatic increase in the price of Bitcoin, this is probably just a "feeding frenzy" volume, as pointed out by Balchunas.
October 29th Marks $3.3 Billion in Bitcoin Trades
Nearly $3.3 billion worth of Bitcoin was traded on October 29th by IBIT. This set the stage for substantial influxes. Within a short period of time, IBIT was able to generate inflows totaling $1.8 billion.
Could This Record Volume Repeat?
Given the unprecedented trading volume in IBIT at the moment, the same thing could happen again. How the next few days play out will determine whether this is indeed the case.
"Not saying it's guaranteed but I'm a fan of patterns and it fits the pattern," he said.
Other ETFs Join the Trading Surge
According to Balchunas, other exchange-traded funds are also witnessing high trading volumes.
Despite losing part of its previous gains, Bitcoin was trading at $74,313 on the Bistamp exchange.
Fresh Capital Flows Amid Coinbase Premium Return
After some doubters claimed that nearly all inflows originated from centralized Bitcoin exchanges, Balchunas recently stated that Bitcoin ETFs were drawing fresh capital.
Also, the Coinbase premium is back for the first time in five weeks, thus it's safe to assume that the current surge is being spearheaded by Americans.
