Bitcoin ETFs and MicroStrategy Push Daily Trading Volume to Record $38 Billion

Bitcoin's surge of 11% to $89,500 on November 11th has led to a record-breaking combined daily trading volume of $38 billion for US spot Bitcoin exchange-traded funds MicroStrategy and Coinbase. This surpasses the previous high of $25 million set in March. BlackRock's iShares Bitcoin Trust ETF alone saw a record $4.5 billion in trading volume. MicroStrategy's stock rose over 25% to $340, with a record $12 billion in trading volume, after announcing the purchase of another 27,200 Bitcoin for around $2.03 billion. Bitcoin miners also saw significant gains, with MARA Holdings soaring 29.9% to $25.01.