- Spot Bitcoin exchange-traded funds witnessed trading volume surpassing $10 billion.
- Bitcoin reached its previous all-time high of $69,000, only to crash 7% after.
- Funds like IBIT, FBTC, BITB, and ARKB all broke their personal records.
US-listed spot Bitcoin exchange-traded funds (ETFs) experienced their most active day on Tuesday as BTC’s quest towards its all-time high took a sharp detour. The leading digital currency saw its price crash by 7% in the past 24 hours, as per data from CoinGecko, after surpassing the $69,000 milestone.
Notably, as pointed out by ETF analyst Eric Balchunas at Bloomberg Intelligence, the recently-approved ten ETFs collectively surged past $10 billion in trading volume during the session, surpassing the previous week’s record.
Funds including BlackRock’s IBIT, Fidelity’s FBTC, Bitwise’s BITB, and ARKB—co-managed by Ark Invest and 21Shares—all broke their personal volume records.
On the other hand, Grayscale’s GBTC continues to witness significant outflows, as shared by Balchunas.
$GBTC has seen almost $10b in outflows yet has the same amount of assets it did on launch day. Seems like magic, but it’s the bull …