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Bitcoin ETFs Drive Surge in U.S. Trading Volumes, Weekday Dominance

Published 07/02/2024, 01:10 AM
Updated 07/02/2024, 01:45 AM
© Reuters.  Bitcoin ETFs Drive Surge in U.S. Trading Volumes, Weekday Dominance
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  • ETFs boost Bitcoin trading volumes post-approval, especially around the US market closes.
  • Weekdays saw heightened BTC trading activity, contrasting with declining weekend volumes.
  • Hong Kong’s ETF impact on Bitcoin volumes was subdued compared to the US, reflecting market dynamics.

The introduction of spot Bitcoin exchange-traded funds (ETFs) in the U.S. and Hong Kong has triggered a significant shift in Bitcoin’s market dynamics, particularly in terms of trading volumes and liquidity, according to a new analysis by Kaiko.

The U.S. Securities and Exchange Commission’s approval of 11 BTC ETFs on January 11 marked a pivotal moment, followed by their launch the next day. Similarly, Hong Kong entered the market with approvals for Bitcoin and Ethereum ETFs in late April.

These developments have prompted a detailed analysis of how these financial products influence Bitcoin’s spot market structure. Research indicates a clear uptick in trading volumes across exchanges included i…

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