BlackRock’s Bitcoin ETF Hits $10 Billion Trading Volume as BTC Declines 12%

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TLDR

  • BlackRock’s IBIT spot Bitcoin ETF achieved a record daily trading volume of $10 billion on Thursday
  • On the same day, the ETF fell by 13%, marking its second-worst daily decline since launch
  • Bitcoin declined 12% over 24 hours to reach $64,000—down 50% from its October peak of $126,000
  • IBIT reported net outflows of $373.4 million on Wednesday, with only 10 net inflow days recorded in 2026
  • According to Unlimited Funds, the average dollar invested in IBIT is now underwater

BlackRock’s iShares Bitcoin Trust ETF set a new daily trading volume record on Thursday, with $10 billion worth of shares changing hands as Bitcoin prices plummeted.

Bloomberg ETF analyst Eric Balchunas shared news of the record-breaking volume on social media, noting that IBIT’s price dropped 13% during the trading session.

This marked the ETF’s second-most severe daily price decline since its debut; the largest single-day drop was 15% on May 8, 2024.

IBIT’s previous volume record stood at roughly $8 billion, set on November 21, 2024. Normally, the fund sees daily trading volumes between $2 billion and $3 billion.

Bitcoin fell 12% in the past 24 hours to hit $64,000, briefly touching a low of $60,300 before a slight recovery.

Bitcoin Down 50% From Peak

This price reflects a steep drop from Bitcoin’s all-time high, which the cryptocurrency reached around $126,000 in early October 2025.

Bitcoin has now declined approximately 50% from that peak—this is the first time the asset has traded below $70,000 in 15 months.

IBIT has followed a similar downward path, having hit nearly $70 per share in early October.

As of Thursday’s close, IBIT traded at $36.10—representing a 48% decline from its October peak.

Outflows Continue for BlackRock ETF

IBIT recorded net outflows of $373.4 million on Wednesday, with only 10 days of net inflows in 2026.

Bob Elliott, investment chief at Unlimited Funds, stated that the average dollar invested in IBIT is now underwater, a milestone reached as of Friday’s market close.

The ETF has struggled to maintain consistent inflows since October; an early October crypto market crash triggered a reversal in fund flows.

IBIT remains the largest spot Bitcoin ETF by assets, holding approximately $56 billion in assets under management.

Market Selloff Accelerates

The broader crypto market has seen widespread losses, with total market capitalization dropping from over $3 trillion in late January to $2.16 trillion.

[Cryptocurrency name missing] was among the worst performers on Thursday, falling about 25%. TRON showed relative strength, declining only 4% among the top 50 cryptocurrencies by market cap.

The selloff extends beyond digital assets; crypto-related equities have also declined during the market downturn.

Market observers point to weak U.S. job market data as one factor, along with growing concerns about capital allocation in the artificial intelligence sector weighing on risk assets.

Veteran trader Peter Brandt suggested the decline may continue, noting on Wednesday that Bitcoin shows “fingerprints of campaign selling” with limited buying interest to support prices.