Nine new spot Bitcoin ETFs recorded $2.4 billion in buying and selling activity on Monday, setting a new record for total daily trading volume, according to Bloomberg senior ETF analyst Eric Balchunas.
“It’s official… New Nine bitcoin BTC
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“The ETF broke its all-time trading volume record today at $2.4 billion, barely ahead of its first day but roughly double its recent daily average.” Posted by Balchunas in X.
He also said that BlackRock’s spot Bitcoin ETF leads the way with $1.3 billion in transactions. According to Balchunas, when Blackrock’s ETF, IBIT, surpassed $1 billion this morning, it ranked “11th among all ETFs (top 0.3%) and top 25 among stocks.”
“It’s a crazy number for a beginner ETF,” he said, adding that $1 billion in trades is “big-boy volume and enough for (even big) institutional consideration.”
Last week, $30 billion Registered Investment Advisor (RIA) platform The Carson Group approved four spot Bitcoin ETFs, including those offered by BlackRock, Fidelity, Franklin Templeton, and Bitwise. This product is available to financial advisors who use the services of the Carson Group.
The nine new spot Bitcoin ETFs exclude Grayscale’s convertible fund, which also has the largest number of assets under management. In addition to BlackRock’s exchange-traded funds, other new products are being offered by Fidelity, Bitwise, Ark 21Shares, Invesco, VanEck, Valkyrie, Franklin Templeton and WisdomTree.
All spot Bitcoin ETFs, including GrayScale’s fund, had cumulative trading volume of about $52 billion as of the end of last week, according to CoinShares. The new product began trading on January 11th.
On Monday, the price of Bitcoin reached nearly $55,000.
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