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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.

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