Bitcoin ETF

Bitcoin

Spot

<h2 id="key-points">Key Points</h2> 
<li>Spot Bitcoin ETFs, known as the “new nine”, have achieved a new daily trading volume record, reaching $2.4 billion on February 26.</li> 
<li>Bitcoin’s price reached a two-year high of $54,938 on the same day.</li> 
The “new nine” spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> exchange-traded funds (ETFs) have set a new daily trading volume record. 
On February 26, trading volumes for these nine ETFs reached $2.4 billion, surpassing the previous record of $2.2 billion set on their first day of trading, January 11. 
These figures were provided by Bloomberg ETF analyst Eric Balchunas and do not include volume from Grayscale’s converted Bitcoin ETF product (GBTC). 
<h2 id="record-breaking-trading-volumes">Record-Breaking Trading Volumes</h2> 
BlackRock’s IBIT saw the highest volume on February 26, with $1.29 billion, setting its own daily record by about 30%. 
Following closely behind was Fidelity’s FBTC with a trading volume of $576 million. 
The ARK 21Shares (ARKB) and Bitwise (BITB) ETFs also reported substantial trading volumes, with $276 million and $81 million respectively. 
Balchunas was uncertain about the source of this newfound interest but noted that trading volumes are usually higher on the first day of the trading week. 
James Seyffart, another Bloomberg ETF analyst, pointed out that February 26 was the second largest trading day recorded at $3.2 billion when including flows from Grayscale’s Bitcoin ETF. 
When IBIT surpassed the $1 billion milestone earlier in the trading day, Balchunas highlighted that IBIT had taken in the 11th largest volume among all ETFs. 
He referred to this as an “insane number for newbie ETF” and remarked that “$1b/day is big boy level volume, enough for (even big) institutional consideration.” 
On the same day, the price of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/">Bitcoin</a> spiked to a two-year high of $54,938. 
While flow data for February 26 hasn’t been released yet, over $583 million flowed into spot Bitcoin ETFs in the previous four-day trading week, according to BitMEX Research. 
On February 21, a net outflow of $35.7 million was recorded, marking the first day without inflows since January 25. 
Year-to-date inflows have now exceeded $5.5 billion.

Bitcoin ETF Trading Explodes as BTC Value Approaches $55K Milestone

Table of Contents

crypto.ro global

Other articles published on Feb 26, 2024

BitForex Down: Crypto Operations Stop After Suspicious $56 Million Exit Scam

MicroStrategy’s Crypto Account Hacked, Fake Airdrop Scam Unfolds

BREAKING: Coinbase Added a New Altcoin to its Listing Roadmap!

AI Altcoins Surge as Tech Giants Fuel Market Optimism

Alya AI: This New AI Data Platform Can Revolutionize the World

Ripple vs SEC Settlement Under Threat? Kraken’s Legal Move Complicates XRP Lawsuit

Join our free newsletter for daily crypto updates!