Bitcoin ETF

Bitcoin

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You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/spotlight-on-bitcoin-etfs-trading-volumes-soar-despite-price-lag" rel="noopener noreferrer nofollow">Spotlight on Bitcoin ETFs: Trading Volumes Soar Despite Price Lag</a> 
Spot <a href="https://en.bitcoinhaber.net/bitcoin-transaction-fees-drop-as-interest-in-blockchain-networks-increases" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs continue to gain traction with cumulative trading volumes surpassing $10 billion on January 17, despite Bitcoin’s price lagging behind the growing interest. Major players like Grayscale, BlackRock, and Fidelity dominate approximately 90% of the total trade volume, which recorded $1.8 billion on January 16, a decrease from previous highs of $3 billion and $4.6 billion.
At the time of writing, Bitcoin has lost 1.96% in value over the last 24 hours, trading at $42,337. This follows a peak of $49,172 after the initial ETF approvals by the US Securities and Exchange Commission, which then led to significant selling pressure and investor anxiety.
The focus now shifts to potential regulatory steps for crypto assets, especially Ethereum, which has seen notable momentum in price, potentially setting it up for future gains.
Bloomberg Intelligence senior ETF analyst Eric Balchunas highlights that BlackRock and Fidelity’s spot Bitcoin ETF products led fund inflows on January 16, each attracting over $400 million. These inflows are seen as a positive development for the crypto asset class, according to XBTO Senior Trader Douglas Comin.
Comin believes that while the ETF developments are excellent news for crypto as an asset class, attracting millions of investors, the inflow of funds will take time, and the recent excitement may have spurred short-term investors to seek quick profits.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/spotlight-on-bitcoin-etfs-trading-volumes-soar-despite-price-lag" rel="noopener noreferrer nofollow">Spotlight on Bitcoin ETFs: Trading Volumes Soar Despite Price Lag</a></h5>

Spotlight on Bitcoin ETFs: Trading Volumes Soar Despite Price Lag

BH NEWS

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