Bitcoin ETF Trading Spikes to Busiest Session Since January Debut
Bloomberg exchange-traded funds analyst Eric Balchunas noted a particular uptick in volume for HODL and BTCW.
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Bloomberg exchange-traded funds analyst Eric Balchunas noted a particular uptick in volume for HODL and BTCW.
Inflows significantly accelerated last week, indicating increasing demand for new spot-based ETFs, CoinShares’ head of research James Butterfill said.
Coinbase reported strong fourth-quarter earnings on Thursday, partly driven by the launch of the ten spot bitcoin exchange-traded funds (ETFs).
Massive inflows into spot bitcoin ETFs made headlines recently, but there are other metrics that showcase U.S. investors’ appetite for the asset.
While the new spot bitcoin ETFs have received billions in net inflows since opening for business on Jan. 11, a sizable amount of money has been exiting gold ETFs.
Excluding Grayscale’s Bitcoin Trust, the bitcoin exchange-traded funds have accumulated over $11 billion worth of BTC a month after going live.
Excitement was high about one month ago, when TradFi once again got the regulatory go-ahead to launch an entirely new investment vehicle for crypto. The process of bringing to the U.S. market a spot bitcoin ETF took more than a decade, but on Jan. 11, 10 such products finally began trading. It’s been a hell of a ride since.
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