Bitcoin

Grayscale Bitcoin Trust

James

<p><strong>The recently launched spot Bitcoin ETFs in the United States witness a tremendous enthusiasm. According to James Seyffart, an analyst at Bloomberg, they have generated nearly $10 billion in trading volume in just 3 days last week. These colossal volumes are driven by giants Grayscale, BlackRock, and FBTC.</strong></p>
<h2 id="h-grayscale-leads-with-5-billion-in-volume">Grayscale leads with $5 billion in volume</h2>
<p>As cited by James Seyffart, the Grayscale Bitcoin Trust (GBTC) far outpaces others in terms of volume generated over 3 days, with nearly $5.2 billion traded. Despite losing momentum to more competitive ETFs, GBTC remains a behemoth in the market. Its conversion process to an ETF is causing a lot of anticipation among crypto investors.</p>
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<p>Following are BlackRock’s iBIT fund, with nearly $2 billion in trades, and the FBTC ETF, with $1.5 billion in volume over 3 days. In total, just for the analyzed period, these three vehicles generated $9.8 billion in trades, proving the voracious interest of American institutional investors. These volumes demonstrate the abundant liquidity provided by these products, particularly the Bitcoin ETFs <a href="https://www.cointribune.com/en/etf-bitcoin-approved-the-very-first-etf-makes-its-debut-on-the-stock-exchange-on-january-11/" target="_blank" rel="noopener noreferrer nofollow">recently approved by the SEC</a>. They pave the way for the massive adoption of Bitcoin by traditional investors.</p>
<h2 id="h-the-bitcoin-etf-revolution">The Bitcoin ETF Revolution</h2>
<p>After years of waiting, the SEC has finally given the green light in 2024 to Bitcoin ETFs backed by physical Bitcoin, and not by futures contracts. Unlike futures, spot Bitcoin ETFs offer investors a direct exposure to the price of Bitcoin (BTC). This enhanced correlation is valued by institutional players. Compared to products like GBTC, spot ETFs also benefit from a regulated structure familiar to TradFi players. And their lower management fees make them more competitive.</p>
<p>Championed by giants such as ProShares or BlockFi, they have quickly won over investors, hence their <a href="https://twitter.com/JSeyff/status/1747366266166206505" target="_blank" rel="noopener noreferrer nofollow">impressive volumes</a> noted by Bloomberg. If they can maintain this momentum, spot Bitcoin ETFs could become the main exposure vehicle for American institutional investors to Bitcoin. A paradigm shift after years dominated by GBTC. It remains to be seen whether this revolution will ultimately lead Grayscale to finalize its ETF conversion, or risk becoming obsolete in the face of more innovative competitors.</p>
<p>The recent $10 billion trading volume in 3 days is a testament to the massive success of Bitcoin ETFs among American investors. Driven by Grayscale and the new funds from BlackRock and FBTC, they are becoming the indispensable crypto investment vehicle.</p>

ETF Bitcoin – Transaction volume reaches $10 billion in 3 days

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