The iShares Bitcoin Trust ETF (NASDAQ: IBIT) is trading lower in the afternoon session on Tuesday, May 28th, with its price at $61.06 USD as of 1:38 PM EDT. This marks an intraday decline of $1.44, or 2.30%, as the popular Bitcoin-tracking exchange-traded fund reflects broader movements in the cryptocurrency market.
IBIT opened the trading day at $61.84, below its previous closing price of $62.50. The ETF reached an intraday high of $62.02 early in the session but has since trended downwards, hitting a low of $60.81. The current price indicates it is trading near its daily lows.
The intraday chart for IBIT shows a consistent downward slope since the market open, with some choppiness but a clear bearish sentiment for the session so far. As an ETF designed to provide exposure to Bitcoin, its performance is closely tied to the price fluctuations of the underlying digital asset.
Key financial details for the iShares Bitcoin Trust ETF include a substantial market capitalization of $151.35 Billion. As is typical for spot Bitcoin ETFs, it does not have a reported P/E ratio or offer a dividend yield, as its value is directly derived from the Bitcoin it holds.
Since its inception, IBIT has seen a 52-week high of $63.70 and a 52-week low of $28.23 (note: 52-week data for relatively new ETFs can reflect the period since launch if less than a year). Today’s dip moves the ETF further from its recent highs. Investors in IBIT and the broader digital asset space will be closely monitoring Bitcoin’s price action and any market-moving news related to cryptocurrencies.
