The iShares Bitcoin Trust (ticker IBIT) has roared to a new all-time high, capturing an impressive 67% of the spot Bitcoin ETF volume market share. This surge surpasses its previous record of 61%, further cementing BlackRock's dominance in the crypto ETF space.

Despite this record-breaking market share, IBIT's daily trading volume stood at $1.2 billion, which is only average for the fund. This suggests that while IBIT outperforms its competitors, overall market activity remains steady.

The discrepancy between record market share and average volume implies that other Bitcoin ETFs may be experiencing a slight dip in trading activity, allowing IBIT to capture a larger slice of the pie without necessarily seeing a surge in its own volume.

BlackRock's success with IBIT comes as no surprise …