Bitcoin ETF

Bitcoin

Spot

Following the landmark approval of Spot Bitcoin (BTC) Exchange Traded Funds (ETFs) by the United States Securities and Exchange Commission (SEC) on January 10, its cumulative trading volume has surpassed $150 billion, barely ten weeks after it was approved. According to The Block’s <a href="https://www.theblock.co/data/crypto-markets/bitcoin-etf/cumulative-spot-bitcoin-etf-volumes" rel="noopener noreferrer nofollow">dashboard</a>, spot BTC ETF trading volume has increased by $50 billion since March 8.
<h2 id="b-blackrock-s-ibit-emerged-the-frontrunner-b">BlackRock’s IBIT Emerged the Frontrunner</h2>
Per an earlier report from TheCoinRise, <a href="https://thecoinrise.com/spot-bitcoin-etfs-surpasses-673m-daily-record-inflows/" rel="noopener noreferrer nofollow">BlackRock spot Bitcoin ETF emerged as the frontrunner </a>in the rapidly expanding landscape of Bitcoin ETFs with $621.1 million inflows. Meanwhile, Fidelity’s FBTC happens to be the second with $245.2 million inflows, and Ark Invest 21Shares’ ARKB had about $23.8 million inflows. The remaining funds generated below $10 million worth of inflows each.
However, outflows of $216.4 million were <a href="https://thecoinrise.com/spot-bitcoin-etf-weekly-outflows-hit-500m-globally-coinshares/" rel="noopener noreferrer nofollow">recorded from Grayscale’s GBTC fund,</a> which happens to be the largest since January 30. Similarly, VanEck’s HODL product also recorded $3.4 net inflows. Notably, the unprecedented influx of capital into spot Bitcoin ETFs reflects a paradigm shift in investor sentiment towards digital assets, particularly Bitcoin.
<h2 id="b-spot-bitcoin-etfs-surpassed-expectations-b">Spot Bitcoin ETFs Surpassed Expectations</h2>
The<a href="https://thecoinrise.com/us-sec-grants-official-approval-for-a-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> US SEC gave its green light to spot Bitcoin ETFs of 11 asset firms</a>, including BlackRock, Grayscale, Fidelity Investments, and Bitwise, amongst others, and since then, Spot Bitcoin ETFs have surpassed expectations. Recall that spot Bitcoin ETF <a href="https://thecoinrise.com/btc-etfs-see-4-6-billion-in-volume-on-first-day-of-trading-gfox-presale-racks-up-2-7m/" rel="noopener noreferrer nofollow">trading volume has surpassed $4.5 billion on its first day</a>, soaring past $1.74 billion in just the first hour. Interestingly, this development resulted in Bitcoin’s rally, which galloped past $48,000 shortly after markets opened up.
Although, the coin dropped to around $38,000 suggesting a negative impact of the spot Bitcoin ETF offering. However, there has been some significant recovery for the largest cryptocurrency by market capitalization. Moreover, as the next halving creeps closer, Bitcoin is positioned as one of the best investments.
<h2 id="b-investors-interest-in-spot-btc-etfs-has-increased-b">Investors Interest in Spot BTC ETFs has Increased</h2>
Interestingly, the rapid accumulation of assets under management by these ETFs underscores the growing institutional interest in BTC as a legitimate asset class. Institutions, previously hesitant due to regulatory uncertainties and custodial concerns, are now embracing Bitcoin ETFs as a regulated and secure means to diversify their portfolios and hedge against inflationary pressures.
Meanwhile, the proliferation of ETFs has democratized BTC investment, allowing retail investors to participate in the crypto market without the need for specialized knowledge or technical expertise. This democratization fosters financial inclusion and augments the liquidity and stability of the BTC market.
The post <a href="https://thecoinrise.com/spot-bitcoin-etfs-cumulative-trading-volume-surpassed-150b/" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Cumulative Trading Volume Surpassed $150B</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Spot Bitcoin ETFs Cumulative Trading Volume Surpassed $150B

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