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US Bitcoin ETFs Smash Records with $7.69 Billion in Trading Volumes

Published 02/29/2024, 02:15 PM
Updated 02/29/2024, 02:45 PM
© Reuters. US Bitcoin ETFs Smash Records with $7.69 Billion in Trading Volumes
BTC/USD
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  • The US spot BTC ETFs saw $7.69 billion in trading volumes on Wednesday.

  • BlackRock’s iShares Bitcoin Trust ETF (IBIT) claimed 43.5% of the daily total volume.

  • Grayscale’s GBTC and Fidelity’s FBTC took the second and third spots, respectively.

The newly approved ten spot Bitcoin exchange-traded funds (ETFs) in the United States have broken their previous records of trading volumes. The offerings saw a whopping $7.69 billion being traded on Wednesday, breaking their volume record by over one and a half times.

Bloomberg ETF analyst James Seyffart confirmed the development, noting that BlackRock’s iShares Bitcoin Trust (IBIT) claimed 43.5% of the total volume with $3.35 billion, effectively doubling its previous daily record.

The Grayscale Bitcoin Trust (GBTC), securing the second spot, recorded $1.86 billion in trading volume. In comparison, the Fidelity Wise Origin Bitcoin Fund (FBTC) took the third position with $1.44 billion, also doubling its volume record.

Notably, the combined volumes of GBTC and FBTC constituted about 43% of the total trading volume. Bloomberg analyst Eric Balchunas noted that it took only half of the trading day for the nine n…

The post US Bitcoin ETFs Smash Records with $7.69 Billion in Trading Volumes appeared first on Coin Edition.

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