Bitcoin ETF

Bitcoin

Spot

<p><strong>Bitcoin (BTC) is on fire and Spot Bitcoin ETFs are too. Yesterday, the flagship cryptocurrency reached its highest price level since its previous record in 2021. In tandem, the Spot Bitcoin ETF market has seen remarkable performance in daily trading.</strong></p>
<h2 id="h-new-records-for-spot-bitcoin-etf-trading">New Records for Spot Bitcoin ETF Trading</h2>
<p>The day of Tuesday, March 5, 2024, marked a new milestone in the trading of <a href="https://www.cointribune.com/en/bitcoin-etf-2-4-billion-traded-in-one-day/" target="_blank" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs</a>. The daily trading volumes of these financial instruments exceeded $9.5 billion. This is on American stock exchanges alone!</p>
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<p>Three ETFs in particular caught the analysts’ attention for their daily performances. These are BlackRock’s IBIT, Grayscale’s GBTC, and Fidelity’s FBTC. Each surpassed $2 billion in daily trading volume.</p>
<p>These figures are simply extraordinary. For comparison, we see that <a href="https://en.cryptonomist.ch/2024/03/06/new-record-for-trading-of-etfs-on-bitcoin-spot/" target="_blank" rel="noopener noreferrer nofollow">this performance</a> is far superior to that of all Spot Bitcoin ETFs combined on January 11. At that time, they barely surpassed $2 billion in daily trading volume.</p>
<p>And in all this, it’s BlackRock’s Bitcoin ETF that stands out. Yesterday, IBIT alone exceeded $3.7 billion in trading volume. That’s nearly double the figure for its performance on January 11. Since February 26, BlackRock’s ETF has been setting records with transaction volumes reaching new heights. This despite a noted drop to less than $320 million in trading volume on February 23.</p>
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     <p lang="en" dir="ltr">New record for trading of ETFs on Bitcoin spot<a href="https://t.co/diPGYo1ROB" rel="noopener noreferrer nofollow">https://t.co/diPGYo1ROB</a></p>— John Morgan (@johnmorganFL) <a href="https://twitter.com/johnmorganFL/status/1765319489137102857?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 6, 2024</a>
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 <figcaption class="wp-element-caption"><em>Spot Bitcoin ETFs set new records</em>
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<h2 id="h-a-direct-impact-on-bitcoin-valuation">A Direct Impact on Bitcoin Valuation?</h2>
<p>Analysts generally note a significant impact of trends around Spot Bitcoin ETFs on the flagship crypto’s price. However, one should be cautious not to assume that the cryptocurrency’s surge is directly linked to the activity around Spot Bitcoin ETFs.</p>
<p>As a reminder, the price of bitcoin surpassed $69,000 before falling back below $62,000 and settling at around $66,600. This characteristic volatility of bitcoin drives speculators towards traditional exchanges where ETFs are traded.</p>
<p>Indeed, the record transactional volumes of Spot Bitcoin ETFs reflect the growing confidence and interest of investors in the flagship cryptocurrency. This is despite the fluctuations in trading volumes and the volatility of bitcoin’s price.</p>
<p>In conclusion, it seems that ETFs are positioning themselves as a regulated and accessible means that offers investors the opportunity to participate <a href="https://www.cointribune.com/en/crypto-the-1-billion-liquidation-wave-hits-hard-2/" target="_blank" rel="noopener noreferrer nofollow">in the crypto market</a>. A trend that is generating significant activity on traditional stock markets.</p>

The Bitcoin Spot ETFs continue to break records!

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