7 months ago
Spot Bitcoin ETFs person continued their record-breaking show this week, signaling implicit $10 cardinal successful measurement connected March 5 — the highest since their motorboat successful January.
The erstwhile grounds was acceptable connected Feb. 28, erstwhile the ETFs recorded a corporate trading measurement of astir $7.7 billion.
IBIT, FBTC clasp the lead
Three spot Bitcoin ETFs made up astir of the full volume. Trading closed with nett inflows of $109.86 cardinal crossed each ETFs.
BlackRock’s iShares Bitcoin Trust (IBIT) was liable for astir $4 cardinal successful measurement connected March 5, portion the Fidelity Wise Origin Bitcoin Trust (FBTC) made up astir $2 billion. Grayscale’s Bitcoin Trust (GBTC) recorded $3 cardinal successful regular volume.
Bloomberg ETF expert Eric Balchunas wrote connected X:
“These are bananas numbers for ETFs nether 2 [months] old.”
Earlier successful the day, Balchunas predicted that spot Bitcoin ETFs would apt surpass their erstwhile grounds arsenic the full measurement reached $6 cardinal astir 7:53 pm UTC.
Individual ETFs interruption records
Balchunas noted that IBIT, FBTC, BITB, and ARKB all experienced grounds regular volumes.
He besides observed exceptional show among respective non-spot ETFs that let for strategical investment. BetaPro Inverse Bitcoin ETF (BITI), the ProShares Bitcoin Strategy ETF (BITO), and 2x Bitcoin Strategy ETF (BITX) each saw grounds volumes.
Several Bitcoin ETFs were among the astir progressive ETFs successful general. Data from Barchart indicates that IBIT and the BITO topped the list, surpassing the S&P 500 ETF Trust (SPY) and the Nasdaq QQQ Invesco ETF (QQQ). GBTC and FBTC besides ranked among the apical 10 ETFs by volume.
The Newborn Nine’s singular show has been a captious operator of Bitcoin’s caller terms surge arsenic request outpaces supply. The flagship crypto deed a caller all-time precocious earlier the halving for the archetypal clip successful its history.
All volumes coincide with Bitcoin (BTC) prices reaching caller highs. BTC briefly touched $69,324 connected March 5, surpassing its November 2021 all-time precocious of $69,044, earlier a brutal terms correction.
The station Spot Bitcoin ETFs grounds $10 cardinal successful regular volume, breaking erstwhile record appeared archetypal connected CryptoSlate.
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