Orhan 
After Donald Trump’s victory in the U.S. presidential election, BlackRock’s IBIT spot bitcoin ETF reached a trading volume of $1 billion within the first 20 minutes. According to Bloomberg Senior ETF Analyst Eric Balchunas, this volume is equivalent to the trading amount reached on an average day.
Thanks to Trump’s crypto-friendly approach, the price of Bitcoin surpassed $75,000 on Wednesday morning, marking an all-time high. In a post on platform X, Balchunas stated, “IBIT saw $1 billion in volume in the first 20 minutes. Other Bitcoin ETFs are in the same situation, and it looks like they might break records.”
Republican Trump had pledged support for crypto during his campaign, while his opponent, Democratic Vice President Kamala Harris, was known for taking a more cautious stance toward Bitcoin and other crypto assets.
BlackRock is reported to be the largest spot Bitcoin ETF in the sector, managing nearly $30 billion in assets. Besides BlackRock, spot Bitcoin ETFs from Fidelity and Grayscale also saw an increase of approximately 8% on Wednesday.
Trump’s campaign promises, including forming a strategic Bitcoin reserve, granting clemency to Silk Road founder Ross Ulbricht, and removing SEC Chair Gary Gensler from office, resonated strongly within the crypto community.
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