Bitcoin ETF Trading Volume Surges, Approaching Gold ETF Asset Size, as Musk's Wealth Ranks High on Forbes and US Stock Market Remains Strong
On November 12, Bloomberg ETF analyst James Seyffart reported record-breaking trading volume for the US spot Bitcoin ETF, reaching $7.22 billion—the highest since March 14 and the sixth-largest trading day to date. BlackRock’s IBIT led with $4.6 billion in trades, followed by Fidelity’s FBTC, which surpassed $1 billion.
Senior Bloomberg ETF analyst Eric Balchunas highlighted that assets under management (AUM) for the US spot Bitcoin ETF have soared to $84 billion, nearing two-thirds of gold ETF assets. Balchunas noted that this rapid growth far surpasses prior expectations, suggesting the Bitcoin ETF may exceed the size of the gold ETF within a year well ahead of the previously estimated 3–4 years.
Additionally, MicroStrategy made a notable investment of $2.03 billion yesterday.
