Bitcoin ETF

Bitcoin

Spot

In less than<a href="https://thecoinrise.com/us-sec-grants-official-approval-for-a-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> three months after the Securities and Exchange Commission (SEC) approved spot Bitcoin ETF</a> from major players such as BlackRock, Fidelity, Bitwise, and others, the cumulative trading volume for U.S. spot Bitcoin exchange-traded funds (ETFs) has surpassed the $200 billion mark.
As seen on<a href="https://www.theblock.co/data/crypto-markets/bitcoin-etf/cumulative-spot-bitcoin-etf-volumes" rel="noopener noreferrer nofollow"> data from The Block’s dashboard</a>, spot Bitcoin ETFs cumulative trading surged to $201.68 billion at the close of Tuesday’s trading. This figure represents nearly a twofold increase in the past month alone. The data reveals a growing investor interest and participation in Bitcoin-related investment products.
<h2 id="b-leadership-dynamics-in-spot-bitcoin-etf-trading-b">Leadership Dynamics in Spot Bitcoin ETF Trading</h2>
BlackRock’s IBIT emerged as the leader in trading volume, generating $1.4 billion in trading. This is despite witnessing a slight dip in trading volume on Tuesday to $2.9 billion from a peak of $9.9 billion it achieved on March 5.&nbsp; Grayscale’s GBTC and Fidelity’s FBTC followed closely behind, with $677 million and $488 million in trading volume, respectively.
Interestingly, Grayscale’s GBTC, known for its higher fees, has seen its market share gradually decline from 50.5% to 23.5% since the launch of spot Bitcoin ETFs on January 11. BlackRock’s IBIT on the other hand has experienced significant growth. As at yesterday’s figures, it has captured a market share of 48.1%. Meanwhile, due to the recent surge in Bitcoin’s value, there has been a clear uptick in interest from<a href="https://thecoinrise.com/bitcoin-price-jump-spikes-interest-among-venture-capitalists/" rel="noopener noreferrer nofollow"> crypto venture capitalists</a>.
<h2 id="b-bitcoin-market-trends-and-fluctuations-b">Bitcoin Market Trends and Fluctuations</h2>
According to<a href="https://twitter.com/BitMEXResearch/status/1777974600342671748" rel="noopener noreferrer nofollow"> BitMEX Research report</a>, despite the overall success of spot Bitcoin ETFs, Tuesday witnessed net outflows of $18.6 million. This followed huge outflows of $223.8 million on Monday. The largest outflow was in Grayscale’s GBTC at $154.9 million, while BlackRock’s IBIT led in inflows with $128.7 million.
An analysis of the slowing of overall flows for spot Bitcoin ETF shows it coincides with Bitcoin’s recent price fluctuations. The cryptocurrency slid 5% from its peak of $71,761 to a low of $68,200. However, Bitcoin remains resilient as it continues to trade at $69,015, reflecting a year-to-date increase of over 63%.
<h2 id="b-bullish-run-ahead-b">Bullish Run Ahead?</h2>
Expressing hopes of a bullish run ahead, a pseudonymous analyst known as TechDev has suggested that<a href="https://thecoinrise.com/bitcoin-could-double-to-140k-in-3-months-analyst/" rel="noopener noreferrer nofollow"> Bitcoin price could double</a> from its current value of $69,000 within the next three months to as high as $140,000 by July.
The post <a href="https://thecoinrise.com/spot-bitcoin-etf-trading-surpasses-historic-200b-milestone/" rel="noopener noreferrer nofollow">Bitcoin ETF Trading surpasses Historic $200B Milestone</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Bitcoin ETF Trading surpasses Historic $200B Milestone

Indice dei contenuti

TheCoinrise Media

Altri articoli pubblicati su 10 apr 2024

Crypto Prices Today April 10: Bitcoin Dips To $69K, ETH At $3500, SOL, XRP, ADA Crash

Whale Investors are Jumping Into This Polygon (MATIC) and Cardano (ADA) Competitor Ahead of Major...

LAKE Unveils Water Shop Portal Trailer in Celebration of Paris Blockchain Week (10 Apr)

FDUSD stablecoin expands to Sui blockchain, hits $3b market cap

Fantom (FTM) Price Accumulation: Catalyst for a 55% Rally?

Fantom (FTM) Price Aims for a Breakthrough

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!