Bitcoin ETFs Break Trading Volume Records Amid BTC’s Wild Friday Swings

Although the day ended in the green, BlackRock’s IBIT continued its negative streak.

This occurred during a turbulent time for the underlying asset, which saw significant price volatility, including a drop to $80,000 and a subsequent recovery of almost $5,000.

BTC ETFs See new record

Bloomberg’s senior ETF analyst Eric Balchunas described the events that took place on the Bitcoin ETF front as a “blast” in trading volumes, with $11.5 billion traded. After claiming this was “wild but also normal,” he explained what could be causing it and how ETFs are liquidation relief valves.

Not a surprising record week for Deploy volume either $GA..this is one thing that can help people stay the course, they can always buy some puts as a hedge while staying long. This was something that big investors loved $SPY when it was first launched in the 90s. pic.twitter.com/eDDXoDvmTv

— Eric Balchunas (@EricBalchunas) November 21, 2025

Somewhat predictably, the world’s largest BTC ETF accounted for the lion’s share, with $8 billion of the total volume. IBIT has been on a significant negative trend in recent weeks, and yesterday was no exception, with net outflows of $122 million. Interestingly, the price has only been in the green once in the last eight trading days.

Still, the day turned out to be positive for ETFs as a group, with $238.4 million flowing into the funds. However, the week was deeply in the red, with net outflows of more than $1.2 billion. according to to FarSide data.

BTC price update

These ETF pullbacks are one of the reasons why the price of BTC has fallen hard lately. Recall that the asset entered the previous business week at $95,000, but took a hard drop of almost $15,000 in just a few days, falling below $81,000 on Friday.

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When New York Fed President John Williams offered some hope that the central bank might cut rates soon, BTC rose to around $85,000. Still, the cryptocurrency is down about 32% since its all-time high in early October, raising questions about the state of the overall market and whether the bears are now in full control.