tl;dr
The Current Dominance of Spot Bitcoin ETFs in the Market The Spot Bitcoin exchange-traded funds have been dominating the ETF market with significant inflows and trading volume. On March 4, the market saw its second-largest trading volume, with BlackRock’s iShares Bitcoin ETF (IBIT) leadi...
The Current Dominance of Spot Bitcoin ETFs in the Market
The Spot Bitcoin exchange-traded funds have been dominating the ETF market with significant inflows and trading volume. On March 4, the market saw its second-largest trading volume, with BlackRock’s iShares Bitcoin ETF (IBIT) leading the charge with an individual trading volume of $2.4 billion. Additionally, the global digital-asset investment products witnessed a record-high inflow of $1.84 billion last week, with trading volumes exceeding $30 billion. This surge in inflows was led by Bitcoin, which has seen a notable 5.38% surge in the last 24 hours and a double-digit spike of 19.88% in seven days, currently trading at $66,899.04.
The Spot Bitcoin exchange-traded funds have led the ETF market with staggering inflows and remarkable trading volume. While the last week witnessed record-high inflows in ETFs, March 4 marked the second-biggest volume day.
In an X post, ETF analyst Eric Balchunas asserted that with a total volume of $5.5 billion on March 4, the Bitcoin ETF market saw its second-largest trading volume. Reportedly, BlackRock’s iShares Bitcoin ETF (IBIT) continues to lead the charge with an individual trading volume of $2.4 billion. IBIT has surged past $11 billion in AUM.
Further, Balchunas added that each of the ETFs is on a rising scale, with their trading volume increasing over 30% in 6 days.
The latest reports from CoinShares confirmed that global digital-asset investment products saw a record-high inflow of $1.84 billion last week. In addition, trading volumes surged over $30 billion in a week. CoinShares’ Head of Research, James Butterfill, narrated, "Trading volumes in investment products reached a record of over US$30bn for the week and at times represented 50% of global Bitcoin daily trading volumes on trusted exchanges."
As per CoinShares, the inflows were led by Bitcoin, triggering the cryptocurrency’s price hike. Bitcoin is ascending over a bullish track, exhibiting a notable 5.38% surge in the last 24 hours. At press time, Bitcoin is trading at $66,899.04 after recording a double-digit spike of 19.88% in seven days.
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