U.S. Spot Bitcoin ETF Sees Second-Highest Trading Volume in History

Spot ETF chart

On Monday, the U.S. spot Bitcoin ETF witnessed its second-highest daily trading volume, reaching $5.5 billion, according to Bloomberg analyst Eric Balchunas. BlackRock’s IBIT trading volume alone stood at $2.4 billion, with assets under management (AUM) exceeding $11 billion. Grayscale, Fidelity, ARK, Bitwise, and others also reported significant trading volumes, reflecting a surge in investor interest. Balchunas highlighted the impressive performance of these ETFs, suggesting a continuation of the bullish trend

Appetite for Bitcoin

Monday marked a watershed for the U.S. spot Bitcoin ETF, as it recorded its second-highest daily trading volume in history, reaching $5.5 billion. This robust trading activity underscores the growing investor appetite for Bitcoin exposure through regulated investment vehicles.

According to insights shared by Bloomberg analyst Eric Balchunas, BlackRock’s IBIT emerged as a key player, contributing $2.4 billion to the total trading volume. Additionally, IBIT’s assets under management (AUM) surpassed $11 billion, reflecting strong investor confidence in the cryptocurrency market.

spot Bitcoin ETF chart

Over 30% Oncrease in Value Within a Week

In addition to BlackRock’s IBIT, other prominent players in the cryptocurrency ETF space reported notable trading volumes. Grayscale, a leading digital asset manager, recorded $1.5 billion in trading volume, while Fidelity’s Bitcoin ETF saw $1 billion in trading activity. ARK, Bitwise, and other ETF providers also reported substantial trading volumes, indicative of heightened investor interest in Bitcoin.

Balchunas further emphasized the remarkable performance of these ETFs, noting that each of them had experienced over a 30% increase in value within the past six days. This bullish momentum, reminiscent of the ARK Mania observed in previous market cycles, suggests a continuation of the positive flow of capital into Bitcoin-related investment products.

A Sustained Interest

In a post on social media platform X, Balchunas confirmed that Monday’s trading activity marked the second-biggest volume day for the U.S. spot Bitcoin ETF. He highlighted the strong contribution from BlackRock’s IBIT and expressed optimism about the sustained momentum in the market.

The surge in trading volume for the U.S. spot Bitcoin ETF, along with robust performance metrics from leading ETF providers, underscores the growing acceptance and adoption of Bitcoin as a mainstream investment asset. As investor interest in cryptocurrencies continues to rise, regulated investment vehicles like ETFs play a crucial role in facilitating broader market participation and capital inflows.

Author: Candace

Candace loves the arts. She holds some bitcoins.