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Bitcoin Hits $75K After Trump Win; BlackRock's ETF Records $4 Billion Trading Volume

Nov 8, 2024, 05:14 AM

Following Donald Trump's victory in the U.S. presidential election, the cryptocurrency market experienced a significant surge, with Bitcoin's price increasing by 7% to reach $75,000. BlackRock's Bitcoin ETF, known as IBIT, saw record-breaking trading activity. Over $1 billion worth of Bitcoin was traded within the first 20 minutes, and total trading volume reached $4 billion. Inflows into BlackRock's ETF totaled $1.1 billion in a single day, marking the largest inflow ever for the fund and exceeding previous records for all Bitcoin ETFs in a single day. The surge came shortly after the ETFs were approved for listing on the New York Stock Exchange. BlackRock's CEO, Larry Fink, expressed bullish sentiments, stating that Bitcoin is as real as gold.