With the strong rise in the price of Bitcoin, the trading volume of the US Bitcoin spot ETF has also reached a new high, approaching $7.7 billion, surpassing the record of $4.66 billion on the first day of listing.
As Bitcoin broke through $64,000 today, the trading volume of the US Bitcoin spot ETF also broke the historical record.
James Seyffart, an ETF analyst at Bloomberg, stated earlier that the new record for the trading volume of the Bitcoin spot ETF officially reached $7.69 billion, surpassing the record of $4.66 billion on the first day of listing.
Among them, BlackRock’s IBIT alone contributed more than 40% of the trading volume, reaching $3.351 billion. Other ETFs with trading volumes exceeding $1 billion include:
– Grayscale’s GBTC, with a trading volume of $1.864 billion.
– Fidelity’s FBTC, with a trading volume of $1.443 billion.
Eric Balchunas, another ETF analyst at Bloomberg, further pointed out that the trading volume of IBIT even exceeded that of QQQ (the Nasdaq 100 Index ETF), becoming the fourth largest ETF in the US by trading volume.
Note: The total number of transactions doubled yesterday, exceeding 500,000 transactions.
Bitcoin spot ETF has seen net inflows for the fifth consecutive day
In terms of fund flow, according to data from the SoSo Value platform, among the Bitcoin spot ETFs with updated data yesterday, a total of $61.32 million was net inflows, marking the fifth consecutive day of net inflows.
It is worth noting that the data for BlackRock’s IBIT has not been updated, and the actual amount is estimated to be much higher. The net inflow on the previous trading day was $570 million.
CoinShares Research Director: Bitcoin is experiencing demand-side impact
The market activity of the Bitcoin spot ETF continues to rise, quickly becoming the second-largest single commodity ETF in the US market, demonstrating high trading heat. James Butterfill, research director at CoinShares, commented on this phenomenon:
With the sharp rise in the price of Bitcoin, the market is curious about the main factors driving this trend. Butterfill stated that at the beginning of this year, Standard Chartered Bank estimated that the Bitcoin spot ETF would attract $50 to $100 billion in funds this year, driving the price of Bitcoin to reach $200,000 by the end of 2025.
Analyst Eric Balchunas expressed doubt about this, predicting that there would be at least $15 billion but no more than $50 billion in fund inflows. However, as Bitcoin broke through the $61,000 mark yesterday, the total size of the Bitcoin spot ETF reached $43.16 billion, indicating that Standard Chartered Bank’s prediction at the beginning of the year may come true.
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