Following the same theme, Grayscale, BlackRock, and Fidelity led the pack on the third day of Bitcoin ETF trading, achieving a notable $10 billion in volume.

Over the third day of trading activity, the top three firms showcased their strength in the market. Bitcoin exchange-traded funds (ETFs) have firmly established their presence, with these three giants collectively securing almost 90% of the market share. Among the current 11 Bitcoin spot ETFs, Grayscale, BlackRock, and Fidelity have emerged as frontrunners. Grayscale , BlackRock and Fidelity Bloomberg analyst James Seyffart reports that the total trading volume for U.S. Bitcoin spot ETFs neared $10 billion, with Grayscale's GBTC leading the way with $5.174 billion, followed by BlackRock's IBIT with $1.997 billion, and Fidelity's FBTC at $1.479 billion, culminating in a total of $9.771 billion.

As we look at the latest numbers, the 24-hour trading volumes for these funds are $371.71 million, $321.92 million, and $1.01 million respectively, as indicated in a recent analysis.

It's worth noting that trading on the third day showed a drop from the $3.1 billion recorded on Friday. Blockworks’ ETF Tracker In stark contrast, the initial trading day last Thursday witnessed a remarkable volume of $4.6 billion.

An update was made to correct an error regarding asset columns.

Grayscale's ETF has seen some outflows, even while it continues to hold a significant volume presence in the realm of new cryptocurrency instruments. This observation comes from Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence.
h/t @quantian1 pic.twitter.com/HuUZELImwL

— James Seyffart (@JSeyff) January 16, 2024

According to Balchunas, shared via social media platform X, Grayscale's spot Bitcoin ETF has experienced a decline exceeding $500 million since it began trading last week. He also noted that BlackRock's ETF is poised to potentially outpace Grayscale in terms of liquidity soon.

Although Grayscale CURRENT UPDATE: The trading volume for day three stands at about half a billion for the Newborn Nine, following a typical drop-off similar to previous high-performing launches in ETF history.

It's noteworthy that the offerings from BlackRock and Fidelity have attracted over $400 million in inflows since they began trading. Balchunas highlights that the trading activities for these new funds have been vigorous, with total volumes exceeding $9.5 billion during the first three days.

As trading volumes for Bitcoin spot ETFs continue to soar daily, asset managers are looking towards other prominent cryptocurrencies to introduce new exchange-traded products.

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Alisa, a passionate journalist working with Cryptocurrencylistings, is an expert in cryptocurrency, zero-knowledge proofs, investments, and the broad spectrum of Web3. With a sharp insight into emerging technologies and trends, she provides thorough reporting to educate and engage readers in the dynamic world of digital finance. introduce Cryptocurrencylistings.com's MemeBox has joined forces with the Solana ecosystem to facilitate faster on-chain asset trading.

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