BlackRock Bitcoin ETF Hits Record Volume of Over $1.3B for Second Consecutive Day
Spot bitcoin ETFs had their best day since their debut on Monday, recording $2.4 billion in daily trading volume coupled with strong inflows.
Binary trading platforms with better performance and payouts
BlackRock
Spot bitcoin ETFs had their best day since their debut on Monday, recording $2.4 billion in daily trading volume coupled with strong inflows.
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.
Bitcoin climbed over $46,000 for the first time in nearly a month early Friday, extending its gain for the week to nearly 10%.
GBTC is expected to lose further funds to newly created ETFs unless there is a meaningful cut to its fees, the report said.
Only 17 days after its launch, the BlackRock iShares Bitcoin Trust (IBIT) has become one of the top five exchange-traded funds (ETFs) of 2024 based on inflows, according to data from Bloomberg Intelligence.
GBTC has led bitcoin ETF volumes, mostly in outflows, since the products started trading in early January.
Skybridge Capital founder and managing partner Anthony Scaramucci sees bitcoin {{BTC}} soaring to at least $170,000 after the halving in April, when the number of new bitcoin entering circulation shrinks again.
The BlackRock iShares Bitcoin ETF (IBIT) on Friday became the first of the recently launched spot bitcoin products to reach $2 billion in assets under-management (AUM).
The group of recently launched spot bitcoin exchange-traded funds (ETFs) are seeing combined negative flows for the first time since they opened for trade on Jan. 11 as money moving into funds like BlackRock’s IBIT and Fidelity’s FBTC has failed to keep pace with the exits from Grayscale’s GBTC.