The record-breaking trading volume for the nine Bitcoin ETFs hit $2.4 billion, exceeding the numbers seen on their launch day.

These nine newly launched spot Bitcoin ETFs recently achieved a significant milestone, generating a remarkable combined daily trading volume of $2.4 billion through trading activities. Eric Balchunas, a seasoned ETF analyst with Bloomberg, pointed out that these ETFs just managed to surpass their first-day trading activity while nearly doubling their recent daily averages.

The investment company BlackRock One ETF took a dominant position by generating $1.3 billion in trading volume. Earlier that day, after BlackRock’s ETF surpassed the $1 billion threshold, it secured the 11th position among all ETFs, ranking in the top 0.3% and among the top 25 stocks.

Eric Balchunas remarked that reaching a $1 billion trading volume is exceptionally impressive for a newly launched ETF, reflecting a significant level of trading activity that is appealing to institutional investors, even the larger ones.

Notably, the nine new spot Bitcoin ETFs do not include Grayscale’s converted fund, which currently manages the highest assets. Besides BlackRock’s offering, other new entrants are from firms such as Bitwise, Ark 21Shares, Invesco, VanEck, Valkyrie, Franklin Templeton, and WisdomTree. Fidelity The ETFs experienced a net inflow of about $519.9 million, while Grayscale’s ETF faced a capital outflow of roughly $22.4 million. In contrast, BlackRock’s ETF saw a capital inflow of $111.8 million, and Fidelity’s ETF attracted $243.3 million.

All spot Bitcoin ETF Moreover, by the end of the last week, the overall trading volume for spot Bitcoin ETFs had nearly reached $52 billion, as highlighted by CoinShares.

Bitcoin's value surged significantly in response to the unprecedented trading volume of these ETFs. report . 

The decentralized cryptocurrency's price rose dramatically, exceeding 10%, reaching a peak of $56,740 this morning, a level not seen since November 2021. Currently, Bitcoin is trading at $56,190 based on data from CoinMarketCap.

Market analysts suggest that the recent spike in trading activity for Bitcoin spot ETFs is fueling the rise in Bitcoin's price, showcasing an increasing confidence among US investors in the cryptocurrency market. Bitcoin The upsurge in trading volume for spot Bitcoin ETFs marks a transformative moment that is significantly impacting Bitcoin's market dynamics and price trends.

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Alisa is a passionate journalist at Cryptocurrencylistings, focusing on cryptocurrency, zero-knowledge proofs, investments, and the broad field of Web3. With her sharp insight into emerging trends and technologies, she delivers in-depth coverage to educate and engage readers in the fast-changing world of digital finance.