• Home

  • Promos

  • News

  • Media

News

27 February 2024
Bitcoin ETF Trading Volume Explodes to $2.4B Record as BTC Nears $55K

Bitcoin ETF Trading Volume Explodes to $2.4B Record as BTC Nears $55K

The 9 recently launched Bitcoin spot exchange-traded funds (ETFs) saw record daily trading volumes on Monday as Bitcoin's price spiked to a 2-year high above $54,000.

Total trading volume across all 9 ETFs hit $2.4 billion, handily beating the prior 1-day record of $2.2 billion set back on January 11, per data from Bloomberg's Eric Balchunas.

Driving over 50% of that volume was BlackRock’s iShares Bitcoin ETF (IBIT), which topped $1.29 billion in daily volume - itself a new record, besting its previous high by more than 30%.

Fidelity’s Wise Origin Bitcoin ETF (FBTC) followed in second place with $576 million in volume. Other ETFs like ARK 21Shares (ARKB) and Bitwise (BITB) saw $276 million and $81 million in trading, respectively.

The surge in interest comes as Bitcoin reached its highest price in 2 years, topping $54,000 and nearing its all-time high of around $69,000.

Year-to-date flows into the ETFs have now exceeded $5.5 billion, with IBIT, FBTC, ARKB, and BITB pulling in the most capital at around $6 billion, $4 billion, $1.4 billion, and $1 billion, respectively.

The record volumes highlight the growing institutional demand for crypto exposure through regulated investment vehicles.

Recommended to read

Yeti Quest by Pragmatic Play
4ヶ月前

Yeti Quest by Pragmatic Play

In the dynamic world of online casino games, Pragmatic Play's Yeti Quest stands out as a thrilling adventure into the snowy expanse of the Himalayas.

Read more
Arsenal Secures First Champions League Quarter-Final Spot in Over a Decade with Dramatic Penalty Shootout Victory over Porto
1年前

Arsenal Secures First Champions League Quarter-Final Spot in Over a Decade with Dramatic Penalty Shootout Victory over Porto

A hard-fought 1-0 victory, the Gunners' performance in north London forced the match into extra time and penalties, with the aggregate score tied at 1...

Read more
Real Madrid Clinches Historic 15th Champions League Victory
10ヶ月前

Real Madrid Clinches Historic 15th Champions League Victory

With a 2-0 victory over Borussia Dortmund, Real Madrid wins their 15th Champions League title. Manager Carlo Ancelotti praises his team's outstanding...

Read more

Get K8 Airdrop update!

Join our subscribers list to get latest news and updates about our promos delivered directly to your inbox.