The T-Rex 2X Lengthy MicroStrategy Every day Goal ETF (MSTU) surged by a powerful 52% as we speak. The ETF noticed document buying and selling quantity, with over $1 billion exchanged all through the session, marking a historic day for the fund. Senior ETF analyst Eric Balchunas highlighted the exceptional worth motion on X.
MicroStrategy ETF Breaks Information
Balchunas commented, “MSTU is up 50%(!) as we speak… on a document $1b in quantity too. Wild scenes as we speak.” Furthermore, he additionally identified the broader market exercise. He famous that the “Bitcoin Industrial Complicated,” together with ETFs and firms like MicroStrategy (MSTR) and Coinbase (COIN), witnessed an unprecedented $38 billion in buying and selling quantity as we speak.
$MSTU is up 50%(!) as we speak.. on a document $1b in quantity too. Wild scenes as we speak pic.twitter.com/rVf9Cwsq1L
— Eric Balchunas (@EricBalchunas) November 11, 2024
The Bitcoin Industrial Complicated (ETFs + MSTR, COIN) noticed $38b in buying and selling quantity as we speak, lifetime information being set all over, incl $IBIT which did $4.5b, which factors to a strong week of inflows. Simply an insane day, it actually deserves a reputation a la Volmageddon pic.twitter.com/rcOLs0MhNF
— Eric Balchunas (@EricBalchunas) November 11, 2024
This record-breaking exercise alerts a strong week of inflows throughout the sector, with the Bitcoin ETF IBIT contributing a considerable $4.5 billion to the overall quantity. The sheer scale of the buying and selling exercise prompted Balchunas to dub the day as “insane,” calling for a brand new time period akin to “Volmageddon” to explain the occasion.
On the time of closing on Monday, November 11, the MSTU ETF was priced at $139.39, marking a surge of 52.36% or a $47.90 enhance. Moreover, the ETF additionally entered the listing of Prime 25 U.S. ETFs by Quantity, grabbing the twenty third spot. In the meantime, BlackRock’s IBIT Bitcoin ETF bagged the fourth spot, marking a brand new excessive within the each day buying and selling quantity.
Newest BTC Acquisition by Firm
The surge within the MSTU ETF comes on the again of great company developments. MicroStrategy, the world’s largest company holder of Bitcoin, lately introduced an replace on its Bitcoin accumulation technique. Between October 31 and November 10, 2024, MicroStrategy added roughly 27,200 BTC to its holdings, investing $2.03 billion in money at a mean worth of $74,463 per Bitcoin, together with related charges. This buy was funded via proceeds from the sale of firm shares beneath its present gross sales agreements.
With this new acquisition, MicroStrategy’s whole Bitcoin holdings now stand at round 279,420 BTC, valued at roughly $11.9 billion. The corporate’s common acquisition value per Bitcoin throughout all purchases is now $42,692, together with all related prices.
