BlackRock Bitcoin ETF Hits New Record As Polymarket Odds Of Bitcoin Hitting $100K This Year Soar

The BlackRock Bitcoin ETF (exchange-traded fund) recorded a new daily trading volume record as Polymarket odds of BTC reaching $100K by the end of the year surge.

BlackRock’s IBIT fund generated $4.5 billion in daily trading volumes yesterday, according to a Nov. 11 post on X by Bloomberg ETF analyst Eric Balchunas.

BlackRock's Bitcoin ETF Overtakes Gold Fund As Investor Demand Reaches Record Highs | Finance 360

BlackRock Bitcoin ETF Leads $1.1 Billion Inflows

IBIT not only experienced a surge in trading activity, it also recorded the most inflows of the US spot Bitcoin ETFs on Nov. 11.

During yesterday’s session, the asset management titan’s ETF saw $756.5 million enter its reserves, according to Farside Investor data. This is more than half the $1,114.1 million inflows the funds recorded collectively on the day.

Fidelity’s FBTC registered the second highest inflows after investors sent $135.1 million to the fund. Trailing behind FBTC is ARK and 21Shares’ ARK, which saw net inflows of $108.6 million.

Bitwise’s BITB, Invesco’s BTCO, Franklin’s EZBC and both of Grayscale’s spot Bitcoin ETFs all registered inflows on Nov. 11. Meanwhile, Valkyrie’s BRRR, VanEck’s HODL and WisdomTree’s BTCW recorded no new flows yesterday.

Polymarket Bettors Confident Of $100K BTC Before Year-End

The uptick in IBIT’s trading volumes and inflows happened during the same time BTC managed to zoom past its previous all-time high to establish a new peak at $89,956.88 in the last 24 hours. It has since pulled back slightly to trade at $89,475.20 as of 3:43 a.m. EST.

According to a contract on Polymarket asking whether BTC will soar to $100K by the end of the year, there is still more upside in the cards for the leading crypto.

Odds on the decentralized betting platform in favor of this happening surged 33% in the last 24 hours. As a result, “Yes” shares are priced at $0.66, indicating a 66% probability that the $100k mark will be breached, according to Polymarket bettors.

Related Articles: 

  • $BEST Wallet Token Presale Debuts Exclusively In Best Wallet – Grab Tokens At The Lowest Price Now!
  • Top Cryptocurrencies to Buy Now November 11 – Cronos, Bittensor, Render
  • ADA Surges 72% As Cardano Founder Charles Hoskinson Eyes Key Role Shaping Trump Crypto Policy

Comments

Post a Comment

Popular posts from this blog

Analyst: ETH Not Ready for Bull Run till Huge Correction

Image
Benjamin Cowen, a cryptocurrency strategist, is bearish on Ethereum (ETH) because the second-largest digital asset has failed to climb back above a key resistance level. In a new video, Cowen tells his 785,000 YouTube subscribers that the price of Ethereum is likely to go down because there is a lot of “anxiety” around the $1,800 mark. Cowen says that there isn’t as much “apathy” in the market as there was during the bear season of 2019/2020. “There’s so much anxiety in this level [$1,800 resistance level] like I think it’s much more likely to break down eventually… I will be the first to admit it’s taking longer than I thought it would. But I also don’t really feel that same type of apathy in the market now that I did back in 2019 and 2020.” At the time of writing, one Ethereum is worth $1,736. Cowen says that less people would care about Ethereum if the price of the second most valuable cryptocurrency fell to triple digits. “It doesn’t really r
Read more

Crypto Analyst Says Selling XRP Now Is Unwise, the Bulls Are Set

Image
Ben Armstrong argued that selling XRP is unwise due to perceived underperformance. He dismissed comparing XRP to Solana (SOL) and Avalanche (AVAX). Armstrong claimed XRP’s uptrend would commence in January, urging investors to pack their bags. In a recent YouTube video, crypto analyst Ben Armstrong argued that selling XRP is unwise due to perceived underperformance. While acknowledging XRP’s historical lackluster trend, he first addressed concerns related to XRP’s failure to sustain its bullish momentum following the victory from the legal dispute. Armstrong argued that broader market conditions suppressed further gains. Furthermore, he countered critical views about XRP’s failure to engineer a bullish trajectory like other rivals such as Solana (SOL) and Avalanche (AVAX), which have seen more than 100% gains.   He dismissed such comparisons and drew parallels to Ethereum’s delayed ascent in previous cycles. Moreover, he cautioned impatient XRP investors
Read more

BitBoy dismissed from FTX case as three celebrities settle

The legal fallout from the collapse of crypto exchange FTX continues, with some high-profile names opting to settle while others are dismissed entirely. Crypto influencer Ben “BitBoy” Armstrong is no longer facing a lawsuit related to his promotion of FTX. Lawyers recently filed notice that they are voluntarily dismissing claims against him. Armstrong had not yet responded to the allegations in court. Meanwhile, Jacksonville Jaguars quarterback Trevor Lawrence, YouTuber Kevin Paffrath, and influencer Tom Nash have agreed to confidential settle ments to resolve claims against them. A judge still needs to approve the deals to officially remove them from the ongoing litigation. According to recent reports, lawyers leading the case say they are in discussions about potential settle ments with other celebrities who promoted FTX, including athletes and social media stars. More deals are likely to come. The lawsuit aims to claw back money paid to celebrity endorsers and sports teams t
Read more