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 briefly broke through $64,000 today (29th), the trading volume of the US Bitcoin spot ETF once again broke the historical record.
James Seyffart, an ETF analyst at Bloomberg, recently stated that the new record for the trading volume of the Bitcoin spot ETF has 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 that surpassed $1 billion in trading volume 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 (Nasdaq 100 Index ETF), making it the fourth largest ETF in terms of trading volume in the United States.
Note: The total number of transactions doubled yesterday, exceeding 500,000 transactions.
Bitcoin spot ETF continues to see 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 that have updated data yesterday, a total of $61.32 million was net inflow, 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 Bitcoin spot ETF continues to rise, quickly becoming the second largest single commodity ETF in the US market, demonstrating extremely high trading enthusiasm. James Butterfill, research director at CoinShares, commented on this phenomenon:
With the significant increase in the price of Bitcoin, the market is curious about the main factors driving this surge. Butterfill mentioned:
At the beginning of this year, Standard Chartered Bank estimated that Bitcoin spot ETFs 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 doubts this prediction and only expects a minimum of $15 billion but no more than $50 billion in capital inflows. However, with Bitcoin breaking through the $61,000 mark yesterday, the total size of the Bitcoin spot ETF has reached $43.16 billion, indicating a possible realization of Standard Chartered Bank’s early-year prediction.
Related Reports:
Bitcoin spot ETF daily trading volume reaches a “new high” of $2 billion, VanEck’s $HODL trading volume surges 14 times, what happened?
Bitcoin market crash! It briefly “fell below $59,000” and dropped by 8%, causing over $700 million in liquidations for 180,000 people.
Bloomberg predicts that the first day of Bitcoin spot ETF will attract “$4 billion” in funds, with half of it coming from BlackRock.