Accumulate

Bitcoin

Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-continue-to-dominate-trading-activity/" data-wpel-link="internal">Spot Bitcoin ETFs Continue to Dominate Trading Activity</a> 
Spot <a href="https://en.coin-turk.com/bitcoin-nears-45000-as-miners-hold-and-whales-accumulate/" data-wpel-link="internal">Bitcoin</a> exchange-traded funds (ETFs) continue to dominate the cryptocurrency market’s trading activity with record volumes reported on February 20. Bloomberg Intelligence’s senior ETF strategist Eric Balchunas announced that nine spot Bitcoin ETFs collectively recorded their highest single-day trading volume, reaching approximately $2 billion. Significant contributions to this surge came from ETFs like HODL, BTCW, and BITB, all breaking previous volume records and signaling increased interest in Bitcoin investment products. 
<h2 style="text-align: justify" id="strong-interest-in-spot-bitcoin-etfs-continues-to-grow-strong">Interest in Spot Bitcoin ETFs Continues to Grow</h2> 
Balchunas emphasized the significance of this success by placing it in the context of the broader ETF landscape. The $2 billion trading volume propelled the nine spot ETFs into the top 10 ETFs and the top 20 individual stocks in terms of trading activity. This situation demonstrates the growing acceptance of Bitcoin-related investment products and their significance in <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> markets. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-317458" src="https://coin-turk.com/wp-content/uploads/2024/02/Bitcoin-BTC-ETF.jpeg" alt="" width="1280" height="720"> 
VanEck’s spot Bitcoin ETF stood out with a significant jump in trading volume, exceeding $300 million and marking a substantial increase from its previous best trading day. This uptick in trading activity indicates that investors’ interest in spot Bitcoin ETFs is growing and that confidence in Bitcoin as an investment asset is high. 
Bitcoin advocate and MicroStrategy chairman Michael Saylor reiterated his firm’s commitment to holding its Bitcoin reserves, highlighting the substantial capital flow from traditional financial systems to the cryptocurrency market through spot Bitcoin ETFs. Saylor pointed to Bitcoin’s increasing value compared to traditional assets like gold, real estate, and the S&amp;P 500 index, arguing that it further solidifies its status as a store of value and investment hedge. 
In addition to Saylor’s comments, market analysts also believe that Wall Street is actively seeking to establish dominance in the Bitcoin market. This institutional interest leads to significant trading volumes and contributes to the ongoing maturation of the cryptocurrency market. 
<h2 style="text-align: justify" id="strong-whales-continue-to-accumulate-btc-strong">Whales Continue to Accumulate BTC</h2> 
On the other hand, CryptoQuant’s CEO Ki Young Ju reported a record increase in whale-level Bitcoin wallet addresses on February 19, with a net inflow of 25,300 BTC in just one day. This strong accumulation by large investors indicates that bullish expectations for Bitcoin prevail, despite the price remaining around $52,000, and demonstrates confidence in its long-term potential. 
Amid these developments, investors eagerly await Bitcoin’s next price move, with any movement outside the $51,700 to $52,515 range expected to provide a clear indication of the future price trajectory. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-continue-to-dominate-trading-activity/" data-wpel-link="internal">Spot Bitcoin ETFs Continue to Dominate Trading Activity</a></h5>

Spot Bitcoin ETFs Continue to Dominate Trading Activity

Mục lục

COINTURK NEWS

Các bài viết khác được xuất bản trên 21 thg 2, 2024

Top Crypto Expert Foresees Massive Growth for Altcoins

Reddit IPO: Redditors To Own Major Stake In Social Media Giant, Here’s How

Top Trending Cryptos on Solana – Ponke, Crown Token, Shadow Token

Arthur Hayes labels Cardano as ‘Wannabe Ethereum,’ Here’s why

Hong Kong Bolsters Cryptocurrency Oversight with Licensing Initiatives

Bored Ape Creator Yuga Labs Welcomes Back Greg Solano as CEO

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!