BlackRock Bitcoin ETF Sets Historic Trading Volume Amid Market Sell-Off

BlackRock's spot Bitcoin ETF, IBIT, recorded historic trading volume of 284 million shares, equivalent to $10 billion in notional value, as crypto markets extended a sharp sell-off. The ETF set a new trading record, surpassing the previous record by 169%. Investor redemptions also increased, with 175.33 million in withdrawals, approximately 40% of the total 434.11 million in net outflows of 11 spot Bitcoin ETF products. The surge in trading volume signals investor capitulation, a stage where long-term investors sell out to cut losses, usually linked to the peak selling phase of a bear market.