Spot Bitcoin ETF Trading Volume This Week Reached $22 Billion
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Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice
This week alone, the total spot Bitcoin ETF trading volume reached $22 billion, with BlackRock’s iShares Bitcoin ETF surpassing $1 billion in daily trading volume.
Fueling the fervor surrounding these investment products, the BlackRock spot Bitcoin ETF now commands over $10 billion in BTC holdings, making it the fastest ETF to reach this milestone in just seven weeks since its trading commencement.
The Bitcoin rate has risen sharply against the background of continuously high activity in the spot Bitcoin ETF market. This achievement has propelled Bitcoin to reach $62,000, its highest value since November 2021.
Notably, achieving the $10 billion mark for the second time is deemed more feasible due to market appreciation being a significant factor. The approval of the first US-listed Bitcoin ETFs on January 10th to track Bitcoin marked a significant milestone for both the cryptocurrency and the broader crypto industry.
Looking ahead, industry experts maintain an optimistic outlook on Bitcoin’s investment potential, anticipating further price appreciation driven by the upcoming Bitcoin halving event. The prevailing sentiment remains bullish, underscoring continued confidence in Bitcoin’s trajectory as an investment asset.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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