• 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

Thrilling Faceoff: Anthony Joshua Takes on Francis Ngannou on March 8, Promising Explosive Action - 'I Will Do Something Nobody Has Done.'
9ヶ月前

Thrilling Faceoff: Anthony Joshua Takes on Francis Ngannou on March 8, Promising Explosive Action - 'I Will Do Something Nobody Has Done.'

Tyson Fury's anticipated victory against Francis Ngannou, a perceived novice in professional boxing, was challenged as Ngannou showcased a unique boxi...

Read more
From Meme To Millions: Discovering 5 Fascinating Things About Dogecoin (DOGE)
1年前

From Meme To Millions: Discovering 5 Fascinating Things About Dogecoin (DOGE)

Read more
Chicago White Sox Ace Liam Hendriks Undergoes Tommy John Surgery for Elbow Injury
1年前

Chicago White Sox Ace Liam Hendriks Undergoes Tommy John Surgery for Elbow Injury

Chicago White Sox relief pitcher Liam Hendriks, who triumphantly returned to the mound after battling non-Hodgkin lymphoma, now faces another challeng...

Read more

Get K8 Airdrop update!

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