He bitcoin Spot ETF are having a record week, and these funds set new all-time highs in trading volume. Specifically, on February 28, these btc ETFs saw a 100% increase in trading volume from the record $2.4 billion traded on February 26.
The 'Nine' record a record trading volume of $6 billion
Eric Balchunas, Bloomberg analyst revealed in an X (formerly Twitter) mail that recently listed bitcoin spot ETFs (excluding Grayscale's GBTC) doubled their volume record set on February 26, with only around $6 billion traded on February 28. BlackRock's iShares bitcoin ETF (IBIT) and Fidelity Wise Origin bitcoin Fund (FBTC) led the way with $3.3 billion and $1.4 billion, respectively.
Balchunas added that the total number of transactions also doubled, with IBIT and FBTC recording more than half a million individual transactions between them. Meanwhile, including GBTC in the mix paints a more impressive picture, as all ten bitcoin Spot ETFs “destroyed” their previous record of $4.66 billion (since launch day), with 7.69 billion dollars Recorded the 28th of February.
He buzz around btc It also extended to btc futures ETFs like the ProShares bitcoin (BITO) Strategy, which recorded more than $2 billion in trading volume that day. Balchunas noted that adding the bitcoin futures ETFs means they all combined to record more than $10 billion traded on the day.
bitcoin ETF Inflows Record Also Broken
Meanwhile, trading volume was not the only record that was shattered on February 28. James Seyffart, Bloomberg analyst revealed a new record of daily entries it was established. The ten bitcoin Spot ETFs are said to have raised $673 million, surpassing the launch day record of $655 million. Interestingly, IBIT alone recorded $612 million, which contributed greatly to this new record.
The world's largest asset manager, BlackRock, is said to now have over $9 billion in assets under management (AuM) for its btc ETF. IBIT from BlackRock, GBTC from Grayscale, Fidelity FBTCand Ark Invest's ARKB are the four spot bitcoin ETFs with more than $2 billion in assets under management.
Demand for these bitcoin ETFs is expected to continue to increase. Balchunas stated in a x publication that Wirehouse platforms are “seriously looking” at adding these investment funds to your offers soon. The analyst noted that pressure was increasing on these platforms and that with popular demand on the rise, they would give way sooner rather than later.
Thanks in part to the demand for these funds, btc is Flying high at the moment. At the time of writing, btc is trading at around $62,900, up more than 10% in the last 24 hours, according to bitcoin/” rel=”nofollow noopener” target=”_blank”>data from CoinMarketCap.
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btc price continues to rise | Source: BTCUSD on Tradingview.com
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