Bitcoin Spot ETF Cumulative Trading Volume Touches IDR 3,168 Trillion

Liputan6.com, Jakarta – The cumulative trading volume of the US spot Bitcoin ETF exceeded USD 200 billion or the equivalent of IDR 3,168 trillion (assuming an exchange rate of IDR 15,844 per US dollar) on Tuesday, April 9 2024 less than three months after the US Securities and Exchange Commission (SEC) approved the ETF from BlackRock, Fidelity , Bitwise and others.

Reporting from Coinmarketcap, Friday (12/4/2024), BlackRock's Bitcoin ETF product, IBIT led the volume yesterday, generating USD 1.4 billion or the equivalent of IDR 22.1 trillion in trading, followed by GBTC Grayscale and FBTC Fidelity, respectively respectively USD 677 million or equivalent to IDR 10.7 trillion and USD 488 million or equivalent to IDR 7.7 trillion.

BlackRock's IBIT has been a major funder, growing from 22.1% market share on January 11 to 52% on before falling back to 48.1%. FBTC Fidelity is in third place with a market share of 16.9%.

The US spot Bitcoin ETF witnessed a net outflow of USD 18.6 million or the equivalent of IDR 294.7 billion on Tuesday, following an outflow of USD 223.8 million or the equivalent of IDR 3.5 trillion on Monday, according to BitMEX Research data.

Grayscale's GBTC generated outflows of USD 154.9 million, beating major inflows of USD 128.7 million from BlackRock's IBIT.

Inflow

Bitwise's BITB recorded the second-largest inflow on Tuesday, adding USD 3.8 million, with Fidelity's FBTC adding USD 3 million and Hashdex's DEFI at USD 0.8 million.

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