Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

US Bitcoin ETFs recorded a high trading volume recently, breaking the old record by 1.5 times. Also, the crypto fear and greed index went up to 80 on Wednesday, showing that traders are feeling very greedy. This happened because Bitcoin recently went up to over $62,000, which is a 40% increase in the last month. February’s record-breaking ETF inflows 
On February 28, the ten ETFs had a big trading day, reaching $7.69 billion in volume, according to James Seyffart, an analyst at Bloomberg ETF. This broke the previous record of $4.66 billion set on January 11 when the funds launched, as per reports.&nbsp;
The new record for
The iShares Bitcoin ETF (IBIT) by <a href="https://news.todayq.com/gbtc-outflows-drop-blackrocks-ishares-leads-amid-bitcoin-dip/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a> was the star, accounting for 43.5% of the total volume, with $3.35 billion traded, doubling its previous record. This volume was almost as much as what all ten ETFs traded on February 27. The Grayscale Bitcoin Trust (GBTC) came in second with $1.86 billion in volume, and the Fidelity Wise Origin Bitcoin Fund (FBTC) was third with $1.44 billion, also doubling its record.&nbsp;
Together, GBTC and FBTC made up about 43% of the total volume. Bloomberg analyst Eric Balchunas noted that on February 28, the nine new ETFs, excluding Grayscale’s, surpassed their previous record in just half a trading day, doubling it to $5.8 billion by the market close.&nbsp;
He also mentioned, “The total number of trades was double too, over half a million individual trades between them.” How is the Bitcoin market doing? 
Market experts informed <a href="https://news.todayq.com/vanguard-holds-no-stance-despite-almost-30b-btc-etf-inflow/" target="_blank" rel="noopener noreferrer nofollow">Balchunas</a> that the high trading volume is mostly due to regular people buying Bitcoin, not computer-driven or quick trading. This huge trading day happened when Bitcoin’s price went up by more than 10% to $64,000, its highest in over two years. Later, it dropped a bit to $60,000 but then went up to over $62,000.&nbsp;
Bitcoin (BTC) is currently priced at $62,106.91, marking an increase of 8.41% over the past day and a substantial rise of 20.62% over the last week, as per data fromCoinMarketCap. The trading volume in the past 24 hours has surged by 125.86%, reaching a total of $90.61 billion and the market cap has also seen a notable uptick, rising by 8.34% to $1.22 trillion. 
At the same time, GBTC experienced its biggest day of people selling off their shares totaling $216.4 million on February 28. This is the most money pulled out in a single day since January 30 and the highest for February so far.
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Bitcoin ETF mania, $7.69B trading vol. shatters January record

Todayq News

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