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Bitcoin ETFs surpass half a trillion dollars in accumulated volume
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Bitcoin exchange-traded funds (ETFs) in the United States surpassed the half-trillion-dollar mark in accumulated trading volume this Wednesday (8). As a result, Bitcoin ETFs reached a total of US$505.4 billion in less than a year after their launch.
Since their debut in January, Bitcoin ETFs have shown accelerated growth. The products accumulated a value of US$100 billion in March this year and US$200 billion in April. That month, the price of Bitcoin reached new records close to US$74,000.
After initial rapid growth, trading volume experienced a period of stability. During this period, the price of BTC fluctuated between US$50,000 and US$70,000 in the following months. However, the scenario changed recently after Donald Trump’s victory in the US presidential election on November 6.
The victory of Trump – who became pro-crypto overnight – brought a new wave of appreciation for cryptocurrency. As a result, there has been an increase in interest in ETFs. On Wednesday (13) alone, Bitcoin ETFs moved US$7.9 billion. This is the fourth highest volume day since launch and the highest since the previous peak in March.
Bitcoin ETFs Attract Huge Attention
Meanwhile, the price of Bitcoin continues to break records, trading above US$90,000. According to data from CoinGecko, the largest cryptocurrency on the market has appreciated by more than 20% in the last seven days.
BlackRock’s IBIT ETF led the trade, posting record volume of $5.2 billion on Wednesday. Next comes Fidelity’s FBTC, with US$1.2 billion, and Grayscale’s GBTC, with US$670 million.
Bloomberg ETF analyst Eric Balchunas highlighted the significant increase in IBIT volume, which reached US$5 billion in a single day for the first time, with a total of US$13 billion in three days of the week. According to Balchunas, only three ETFs and eight stocks surpassed IBIT’s trading volume on Wednesday.
Since the beginning of the year, IBIT has been gaining ground among Bitcoin ETFs, rising from a 15% market share in January to 67% currently.
Despite lower relative interest, US Ethereum ETFs launched in July have also seen growth. These funds moved US$702 million on Wednesday and total US$22.3 billion in accumulated volume. This increase in volume reflects renewed interest in Ethereum funds, led by Fidelity’s FETH, which raised $101.7 million, and BlackRock’s ETHA, which raised $35.6 million.
In addition to growth in volume, Bitcoin ETFs also saw strong inflows, with $510.1 million in new investments on Wednesday, adding up to $2.4 billion this week alone. BlackRock’s IBIT led the contributions, raising US$230.8 million, followed by Fidelity’s FBTC, with US$186.1 million, and Grayscale’s GBTC, with US$61.3 million.
Bitcoin ETFs surpass half a trillion dollars in accumulated volume
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Bitcoin ETFs surpass half a trillion dollars in accumulated volume
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Bitcoin ETFs surpass half a trillion dollars in accumulated volume
