IBIT Ranks Among Top-Traded ETFs as Bitcoin Climbs, While Mining Stocks Lag

Bitcoin Rally Pushes IBIT Ahead of Major ETFs While Miners Lag

A 6% rebound in bitcoin on Tuesday fueled heavy trading in crypto-related exchange-traded funds (ETFs), particularly BlackRock’s iShares Bitcoin Trust (IBIT), which outpaced major funds like Vanguard’s S&P 500 ETF (VOO) in daily volume.

IBIT recorded approximately $3.7 billion in trading activity, surpassing VOO’s $3.28 billion, according to Barchart. The fund’s surge puts it in the ranks of some of the most liquid and widely held ETFs in the U.S., highlighting growing investor interest in bitcoin exposure.

The spike in volume coincided with bitcoin’s price recovery, following a sharp early-week sell-off. The activity also came a day after Vanguard, historically cautious on crypto, announced it would begin offering bitcoin ETFs and crypto mutual funds on its platform.

BlackRock’s bitcoin ETFs have become a cornerstone of the firm’s product lineup despite being launched less than two years ago. IBIT alone now holds $66.3 billion in net assets, making it the firm’s top revenue-generating ETF out of more than 1,400 funds managed under $13.4 trillion in total assets.

The broader crypto market also posted gains on Tuesday. Ether (ETH), XRP, and Dogecoin (DOGE) rose around 7% over 24 hours, while Cardano (ADA) led with a 14% jump. Chainlink (LINK) gained 11% following the debut of a Grayscale ETF tied to LINK on NYSE Arca.

The bitcoin rebound supported gains in crypto-related equities. MicroStrategy (MSTR), which holds over 174,000 BTC, rose 6%, while trading platform Robinhood (HOOD) gained 2%. Bullish (BLSH) climbed 5%, and Circle (CRLC), issuer of the USDC stablecoin, added 4%.

Not all crypto stocks benefited. Coinbase (COIN) fell 5% after shareholders filed a lawsuit alleging executives engaged in a years-long scheme to sell billions in stock at inflated valuations following the company’s 2021 public listing.

Bitcoin mining stocks fared worse. Iren (IREN) led losses with a 15% drop, followed by Cipher Mining (CIFR) down 10%, and TeraWulf (WULF), which declined 7%, despite the broader crypto market rally.

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