Spot Bitcoin ETF Trading Volume Surges To Historic $10 Billion
Key Points:
Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice
Analyst Eric Balchunas from Bloomberg reported this milestone, noting that spot Bitcoin ETF trading volume, including BlackRock’s iShares Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and ARK 21Shares Bitcoin ETF, all reached new highs.
BlackRock’s iShares Bitcoin Trust (IBIT) emerged as the top performer, leading the pack in trading volume. Fidelity Investments’ FBTC and Grayscale Investment’s GBTC followed closely behind, completing the top three most traded spot Bitcoin ETFs.
Balchunas provided further context by highlighting that the overall trading volume of these Bitcoin ETFs surpassed that of American tech giant Microsoft Corporation.
This surge in spot Bitcoin ETF trading volume coincides with Bitcoin‘s price rally, with the cryptocurrency reaching a peak of over $69,000 on Coinbase, the largest crypto exchange in the United States. However, the price subsequently experienced a rapid decline, currently resting at $63,500. The market also witnessed a flash crash, resulting in the liquidation of more than $700 million worth of assets.
The trend of robust trading activity has persisted for nearly two months since these investment vehicles received regulatory approval from the United States Securities and Exchange Commission (SEC).
Within just two months of regulatory green light, the ETFs collectively recorded over $10 billion in trading volume, indicating strong investor interest and confidence in Bitcoin-related financial products.
| 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. |
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
With the platform facing a cracked whip, Trump Media company is expanding into new business…
Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
This website uses cookies.
