Bitcoin ETF

Bitcoin

James

<div class="insidebitcoins">
 Trading volumes for the nine newly-launched spot Bitcoin ETFs (exchange-traded funds) reached a new high as BlackRock’s ETF volumes topped $1 billion and BTC soared past $56K.
 Nine newly-launched spot Bitcoin ETFs collectively saw more than $2.4 billion in trading activity on Feb. 26, while BlackRock’s IBIT broke its previous record daily inflow by about 30% as it breaks away from the pack.
 “BlackRock is Godzilla-big with massive distribution, a trusted brand and they are well known in trading world,” said Bloomberg ETF analyst Eric Balchunas in a Feb. 26&nbsp; post on X.
 <h2 id="span-style-font-weight-400-losing-ground-to-blackrock-s-bitcoin-etf-span">Losing Ground To BlackRock’s Bitcoin ETF</h2>
 Following IBIT, Fidelity’s FBTC achieved second place in terms of inflows with $576 million in volumes. ARK 21 Shares’ ARKB posted $271 million in total volumes and Bitwise’s BTB amassed $81 million worth.
 The spot Bitcoin ETFs posted their second-largest trading day when adding the volume registered by Grayscale’s converted Bitcoin fund, said Bloomberg ETF analyst James Seyffart.
 Balchunas said that BlackRock’s IBIT registered the eleventh largest trading volume among all ETFs. He added that IBIT’s whopping trading activity also ranked the ETF in the top 25 list of the most actively traded stocks on the same day.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 MILESTONE $IBIT has traded $1b worth of shares today so far.. which ranks it 11th among all ETFs (Top 0.3%) and Top 25 among stocks. Insane number for newbie ETF (esp one w ten competitors). $1b/day is big boy level volume, enough for (even big) institutional consideration. pic.twitter.com/1vxW5jhaXT
 — Eric Balchunas (@EricBalchunas) February 26, 2024
 </blockquote>
 
 <h2 id="span-style-font-weight-400-btc-s-rally-behind-surging-bitcoin-etf-volumes-span">BTC’s Rally Behind Surging Bitcoin ETF Volumes?&nbsp;</h2>
 Although Balchunas is not entirely sure what triggered the spike in spot Bitcoin ETF trading volumes, he said it may have something to do with BTC’s rally. The analyst also noted that the first day after the weekend generally sees “heightened” trading activity.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Not totally sure reason besides price rally generating interest but it does seem like these things really see heightened action on first day after wknd
 — Eric Balchunas (@EricBalchunas) February 26, 2024
 </blockquote>
 
 The Bitcoin price went ballistic in the past 24 hours, skyrocketing more than 10% to trade at $56,687.98 as of 5:30 a.m. EST.&nbsp;
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 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etf-inflows-hit-record-high-as-blackrock-inflows-soar-to-new-ath-and-btc-surges-towards-57k-tbt80934.html">https://thebittimes.com/bitcoin-etf-inflows-hit-record-high-as-blackrock-inflows-soar-to-new-ath-and-btc-surges-towards-57k-tbt80934.html</a>
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Bitcoin ETF Inflows Hit Record High As Blackrock Inflows Soar To New ATH And BTC Surges Towards $57K

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