Bitcoin ETF

Bitcoin

Billion

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-etf-market-nears-milestone-with-trading-volume-close-to-50-billion" rel="noopener noreferrer nofollow">Bitcoin ETF Market Nears Milestone with Trading Volume Close to $50 Billion</a><br></p>
<p style="text-align: justify">The aggregate spot trading volume for <a href="https://en.bitcoinhaber.net/crypto-market-continues-to-face-downturn" rel="noopener noreferrer nofollow">Bitcoin</a> Exchange-Traded Funds (ETFs) from various issuers is on the brink of reaching an impressive $50 billion. This information, provided by Bloomberg Intelligence’s senior ETF analyst James Seyffart, shows that prominent players like Grayscale’s GBTC and BlackRock’s IBIT, alongside Fidelity’s FBTC, have contributed to a collective trading volume of $49.7 billion to date.</p>
<h2 id="analysis-of-individual-bitcoin-etf-performance">Analysis of Individual Bitcoin ETF Performance</h2>
<p style="text-align: justify">Grayscale leads this charge by recording a trading volume close to $20 billion, despite experiencing significant net outflows. Meanwhile, IBIT and FBTC have trading volumes of approximately $13.15 billion and $9.1 billion respectively, with IBIT showing substantial net inflows. However, Valkyrie’s spot Bitcoin ETF, despite a promising debut, is lagging behind in trading volume when compared to its counterparts even after expanding its BTC custody with BitGo.</p>
<h2 id="bitcoin-s-price-surge-influences-etf-activity">Bitcoin’s Price Surge Influences ETF Activity</h2>
<p style="text-align: justify">Interestingly, Valkyrie’s total inflows outperform those of other issuers such as VanEck and Franklin Templeton’s EZBC despite its lower trading volume. The spike in trading volumes correlates with Bitcoin’s recent price surge, as it broke past the $52,000 threshold. At present, Bitcoin hovers around $51,440.50, slightly up by 0.23% from the previous day.</p>
<p style="text-align: justify">Cryptocurrency analysts exhibit a positive outlook for Bitcoin’s value, with predictions of further appreciation in the weeks ahead. Analyst Ali Martinez suggests a potential rise to the $57,000 mark, while Max Keizer’s more bullish outlook, albeit potentially tied to a major US stock market correction, forecasts a tenfold increase from its current value. This optimistic sentiment regarding Bitcoin’s value could drive further interest and investment into the spot Bitcoin ETF sphere shortly.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-etf-market-nears-milestone-with-trading-volume-close-to-50-billion" rel="noopener noreferrer nofollow">Bitcoin ETF Market Nears Milestone with Trading Volume Close to $50 Billion</a></h5>

Bitcoin ETF Market Nears Milestone with Trading Volume Close to $50 Billion

Table of Contents

BH NEWS

Other articles published on Feb 22, 2024

Sponge Staking And Bridging Blasts Past $10m, Ethereum And Polygon SPONGE V2 Yields At 190% And 968%

a16z invests $100 million in Ethereum protocol EigenLayer

Cardano Founder States X Engagement with Developments was to Showcase, Not to Endorse

ATOM and XMR Trade Sideways as Investors Move to Borroe Finance Presale for Gains

Coinbase Backs Grayscale's Ether ETP Proposal in SEC Submission

Pullix (PLX) Emerges as the Top DeFi Investment for 2024, While MATIC and AVAX Strive for Continu...

Join our free newsletter for daily crypto updates!