BlackRock BTC ETF sees $10B volume amid sharp BTC selloff

BlackRock has achieved an all-time high in daily transaction volume thanks to its spot Bitcoin exchange-traded fund (ETF). Notably, the world’s largest asset manager is celebrating this success amid heightened concerns about Bitcoin’s sharp price decline.

In an X post, Eric Balchunas, a Senior ETF Analyst at Bloomberg Intelligence, noted that the iShares Bitcoin Trust ETF (IBIT) surpassed its previous single-day trading volume on Thursday, February 5, with $10 billion in shares changing ownership.

Apart from this finding, Balchunas disclosed that IBIT drastically dropped by 13% the same day, reflecting the second-most significant daily loss since the asset began trading. Notably, the largest decline, which recorded a low of 15%, occurred on May 8, 2024. 

The recent cryptocurrency market trend raises concerns among individuals 

Just recently, IBIT recorded $373.4 million in net outflows so far in 2026, yet net inflows on only 10 trading days. Following this outcome, sources noted that the ETF has struggled to maintain momentum and that inflows have remained inconsistent since the crypto market crash in early October, while BTC’s price has continued to decline.

To support this claim, data from CoinMarketCap shows that Bitcoin is trading at $65,882.00, down 6.71% over the past 24 hours. With this decline in place, reports unveiled that the cryptocurrency dropped approximately 50% from its record high of around $126,000 in early October.

Similarly, IBIT has followed suit. As of Thursday, February 5, the ETF traded at $36.10, down from its all-time high of about $70 in early October. Due to this downtrend, Bob Elliott, the investment chief at Unlimited Funds, stated that the average dollar invested in IBIT is currently depreciating in value on Friday’s market close, illustrating a challenging day for the fund.

Meanwhile, it is worth noting that the latest Bitcoin crash is driven by weak US job market data and mounting concerns about massive capital expenditures in the artificial intelligence sector.

To demonstrate the intensity of the matter, Peter Brandt, a renowned veteran trader with more than 50 years of experience, conducted an analysis and stressed that the decreases seen in the cryptocurrency market may not end soon. Moreover, he observed that Bitcoin is illustrating signs of intense, sustained selling activity with limited buying support.

Strategy encountered a significant loss amid cryptocurrency market volatility 

Following the recent declines in the cryptocurrency market, reports indicated that Strategy, the world’s first and largest Bitcoin Treasury Company and a provider of AI-powered enterprise analytics software, reported a $12.4 billion net loss in the fourth quarter of last year. This loss is attributed to a 22% drop in Bitcoin’s price during that period.

However, the company stated that, even with this loss, its Q4 revenue surged 1.9% year over year to $123 million. Sources asserted that this rise was largely due to the efforts of its business intelligence unit. Nonetheless, the recent surge in market volatility triggered a 17% decline in its stock price, which closed at $107.

Even with this loss encountered, Andrew Kang, the chief financial officer of Strategy, mentioned that “ the company’s financial setup is stronger and more resilient today than ever before,” further adding that “Strategy has built a digital fortress backed by 713,502 Bitcoins, and our move toward Digital Credit matches our long-term vision for Bitcoin.” 

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