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BTC Rally Pulls Up Crypto Stocks and Bitcoin ETFs Trading Volume To $38B

BTC Rally Pulls Up Crypto Stocks and Bitcoin ETFs Trading Volume To $38B

BTC Rally Pulls Up Crypto Stocks and Bitcoin ETFs Trading Volume To $38B

As Bitcoin (BTC) hovered near the $90,000 mark due to Donald Trump's election as the 47th US President crypto stocks and Bitcoin ETFs trading volume soared.

Crypto stocks like Coinbase and MicroStrategy have set their own records as they chase the bullish run of BTC. Bitcoin ETFs are always skyrocketing thanks to this boom. MicroStrategy stocks rallied 396% in 2024 to reach the highest peak in 24 years at $340.

In the US election week, Bitcoin ETFs and crypto stocks together reached a record trading volume of $38 billion.

While some ETF analysts are attributing this spike in trading volume to crypto investors “looking for a little excitement”, others think such rallies are bound to push investors towards Bitcoin ETFs.

The $90.6 billion net worth of BTC ETFs is likely to surge 2-3 times more than gold ETFs which are valued at $286 billion. In this rise of ETF trading volume, BlackRock's IBIT alone touched $4.7 billion in Bitcoin ETFs on November 11.

While BTC has gained 110% since January 2024 Ethereum has increased by more than 44%. This surge in Bitcoin ETFs comes at a time when the crypto market crossed $3 trillion, a new all-time high.

BTC might be getting all the attraction, but Ethereum ETFs are not far behind as it registered a record $295 million trading volume from institutional investors on November 11. Last month there was zero Ethereum ETF inflow day.

US Ethereum ETFs have registered more than $500 million in daily inflows after Donald Trump won the US election on November 5. The high inflows helped reverse the negative Ethereum ETFs performance seen earlier.

At the time of publication, Bitcoin was trading at $89367, up 2.97% in the last 24 hours with more than a 46% spike in its trading volume which stood at $149.54 billion while the cryptocurrency’s market cap was at $1.77 trillion.

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