BlackRock’s spot bitcoin
exchange-traded fund (ETF) listed on Nasdaq below the ticker IBIT rose 3.49% final week, snapping a four-week downtrend in buying and selling volumes.
A complete of 210.02 million shares modified fingers within the week ended June 27, registering a 22.2% progress from the previous week’s quantity tally of 171.74 million shares, in response to knowledge supply TradingView. That is the primary weekly progress for the reason that third week of Might.
The renewed upswing in quantity comes amid continued demand for the ETF. Final week, IBIT registered a web influx of $1.31 billion, following the previous week’s tally of $1.23 billion. The biggest publicly listed fund has amassed $3.74 billion in investor cash this month, in response to knowledge supply SoSoValue.
The 11 spot ETFs listed within the U.S. have collectively registered a web influx of over $4 billion this month, marking the third consecutive month-to-month influx.
The chart reveals that IBIT has fashioned a bull flag, mimicking the bullish continuation sample on the spot BTC value chart.
A breakout, if confirmed, would sign an extension of the bull run from early April lows close to $42.98.
