Bitcoin spot ETF remains highly active since its approval. Bloomberg analysts pointed out that the daily trading volume of 9 Bitcoin spot ETFs surged to $1.2 billion yesterday, ranking among the top 1% of all ETFs.
(Bitcoin surpasses silver to become the “second largest ETF” in the United States! Only second to gold)
(Background information:
Bloomberg analyst: BlackRock’s Bitcoin spot ETF “exceeded” the total of 500 new ETFs last year)
After the launch on the 11th, the total trading volume of the Bitcoin spot ETF exceeded $4.6 billion on the first day, successfully opening the door for traditional financial investments in BTC, and the trading activity has remained high.
Bloomberg ETF analyst Eric Balchunas tweeted today (20th) that the trading volume of 9 Bitcoin spot ETFs has surged again, rising by 12% compared to Thursday and 53% compared to Wednesday, which is a rare phenomenon.
He also pointed out that Fidelity’s $FBTC, with a trading volume of $499 million, surpassed BlackRock’s $IBIT with $429 million, and these two asset management giants are competing for the leading position in Bitcoin spot ETFs.
Further reading: Bitcoin surpasses silver to become the “second largest ETF” in the United States! Only second to gold.
Franklin Templeton CEO: Investor demand for Bitcoin is significant.
According to a report from Dongqi on Friday, data shows that the total assets under management of 11 Bitcoin spot ETFs have exceeded $27 billion, surpassing silver and becoming the second largest ETF commodity asset class in the United States, second only to gold. It shows that Bitcoin ETFs have been successfully embraced by mainstream investors.
Jenny Johnson, President and CEO of Franklin Templeton, which launched the Bitcoin spot ETF last week, stated to CNBC on Friday that she observed a “significant demand” for Bitcoin from investors in their spot ETFs. Franklin Templeton is a multinational asset management giant in the United States with assets under management exceeding $1.4 trillion.
She believes that Bitcoin ETFs will be welcomed by investors because they eliminate the need for investors to deal with the management of wallets and private keys. She stated that the management of private keys is technically complex and if not properly safeguarded, the Bitcoin held by investors may be lost or stolen.
She also pointed out that there are many reasons for the increased demand for Bitcoin among the public. For example, Bitcoin’s payment scenarios are gradually expanding, and many people use it to protect against authoritarian governments because they are concerned that their fiat currencies may be confiscated for saying the wrong things.
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