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<p>The post <a href="https://coinpedia.org/news/spot-bitcoin-etfs-achieve-second-highest-daily-trading-volume-hitting-5-5b/">BlackRock’s IBIT Leads Charge as Spot Bitcoin ETFs Hit $5.5 Billion</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>This news might shock (or surprise) you! </p> 
<p>On a wonderful day for the U.S. stock market, <a href="https://coinpedia.org/news/bitcoin-etfs-record-second-highest-weekly-inflow-of-1-8-billion-luring-btc-price-to-retest-69k/">Bitcoin Exchange-Traded Funds (ETFs)</a> experienced an impressive surge, reaching the second-highest daily trading volume at a staggering $5.5 billion. Renowned Bloomberg expert, Eric Balchunas, sheds light on the factors driving this historic financial feat.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">The ten bitcoin ETFs a virtual lock to clock their second biggest volume day today. So looks like the big bump up in trading activity last week was more new normal than anomaly. <a href="https://t.co/dOfIQ7hhS2">pic.twitter.com/dOfIQ7hhS2</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1764730139512848543?ref_src=twsrc%5Etfw">March 4, 2024</a>
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<p>Let’s explore what he has to say, shall we?</p> 
<h2 class="wp-block-heading" id="h-leaders-of-the-pack">Leaders of the Pack</h2> 
<p>BlackRock’s iBIT takes the lead in this financial frenzy, managing assets exceeding the $11 billion mark. Here are the substantial gains each ETF achieved on this groundbreaking day:</p> 
<ul> 
 <li>Grayscale: $1,530,679,380</li> 
 <li>Fidelity: $1,075,371,219</li> 
 <li>ARK Invest: $245,272,021</li> 
 <li>Bitwise: $163,028,812</li> 
 <li>VanEck: $27,470,679</li> 
 <li>Invesco: $25,336,074</li> 
 <li>WisdomTree: $16,375,176</li> 
 <li>Franklin: $16,141,320</li> 
 <li>Valkyrie: $5,035,376</li> 
 <li>Hashdex: $315,654</li> 
</ul> 
<p>Also Read: <a href="https://coinpedia.org/crypto-live-news/amid-bitcoin-etfs-1-7b-net-inflow-a-fall-coming-soon/"></a><a href="https://coinpedia.org/research-report/bitcoin-etf-performance-a-detailed-insight-into-futures-and-spot-markets/">Bitcoin ETFs: Discover the Top Performers in Futures and Spot Markets</a></p> 
<h2 class="wp-block-heading" id="h-bitcoin-s-skyrocketing-value">Bitcoin’s Skyrocketing Value</h2> 
<p>Against the backdrop of intense market enthusiasm, Bitcoin inches closer to its peak value of $69,000. At the latest count, the leading cryptocurrency stands at an impressive $68,381. While sustained investments and rising prices fuel this upward trend, concerns arise about potential market corrections. </p> 
<p>Analysts predict a 20-30% correction due to the rapid ascent, but it’s expected to be temporary.</p> 
<h2 class="wp-block-heading" id="h-ethereum-etfs-where-s-the-hype">Ethereum ETFs – Where’s the Hype?</h2> 
<p>While Bitcoin ETFs steal the spotlight, anticipation for a potential <a href="https://coinpedia.org/news/sec-delays-decision-on-blackrocks-ethereum-etf-proposal-raises-questions-on-market-manipulation-and-investor-protection/">Ethereum spot ETF</a> seems to be losing steam. Balchunas notes that, unlike the success of Bitcoin ETFs, an Ethereum ETF may not make as big of an impact. Drawing a comparison, he likens it to a lesser-known band playing after the main act at a concert, suggesting <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/">Ethereum</a> ETFs might lack significant influence.</p> 
<p>This perspective is rooted in the stellar performance of Bitcoin ETFs, amassing over $7 billion in net flows since their debut on January 11. <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a>, nearing its all-time high, reflects the market’s excitement. Combined with the halving event, the cryptocurrency market initiates a bullish phase, promising exciting times ahead.</p> 
<p>This Might Interest You: <a href="https://coinpedia.org/news/the-countdown-to-cryptos-biggest-events-halving-and-the-ethereum-etf/">The Countdown to Crypto’s Biggest Events: Halving and the Ethereum ETF</a></p>

BlackRock’s IBIT Leads Charge as Spot Bitcoin ETFs Hit $5.5 Billion

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