U.S. Spot Bitcoin ETFs Reach $200 Billion in Trading Volume
U.S. spot Bitcoin exchange-traded funds (ETFs) have achieved a significant milestone, exceeding $200 billion in cumulative trading volume.
This milestone, achieved in less than three months since regulatory approval for ETFs from major institutions like BlackRock and Fidelity, underscores the growing interest in cryptocurrency investment vehicles.
Over the past month alone, trading volume for spot Bitcoin ETFs nearly doubled, surging from $100 billion on March 8 to an impressive $201.7 billion by the close of the latest trading session.
Tuesday’s trading activity reflected a total volume of $2.9 billion for spot Bitcoin ETFs, with BlackRock’s IBIT leading the pack at $1.4 billion.
Notably, Grayscale’s GBTC, once dominant, has seen a decline in market share, dropping to 23.5%, while BlackRock’s IBIT has steadily climbed to 48.1%.
READ MORE: BitMEX Co-Founder Forecasts Crypto Market Downturn Post Bitcoin Halving
Despite this, U.S. spot Bitcoin ETFs experienced net outflows totaling $18.6 million on Tuesday, following a larger outflow on Monday, signaling shifting investor sentiments amidst Bitcoin’s price fluctuations.
Nevertheless, total net inflows for all ETFs stand at an impressive $12.4 billion, highlighting continued interest and investment in the cryptocurrency market.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
