The frenzy surrounding Bitcoin shows no signs of slowing down as the total trading volume of all Spot Bitcoin ETFs on the market has soared to a staggering $7.5 billion today. In the wake of BTC’s recent surge, hitting a high of over $57,000, investors are flocking to capitalize on the cryptocurrency’s upward momentum.
Leading the charge is investment giant BlackRock, with trading surpassing $1.3 billion, closely followed by Grayscale and Fidelity. Tuesday alone witnessed a whopping 100,000 individual trades on IBIT, underlining the fervor gripping the market.
Just days ago, the total trading volume crossed $3.24 billion, reflecting the exponential growth in investor interest. As the bell rang on Tuesday, the top BTC ETF products revealed staggering figures, with BlackRock dominating the scene.
With BTC maintaining its price stability around $57,000, the focus now shifts to the behavior of Spot Bitcoin ETF trading volume. Only time will unveil the true trajectory of BTC’s meteoric rise, but for now, investors remain captivated by its unparalleled potential.
Bitcoin ETF BITB Hits $1 Billion Milestone
Bitwise’s spot Bitcoin ETF (BITB) has soared to a monumental achievement, crossing the $1 billion mark in assets under management (AUM). CEO Hunter Horsley announced the milestone on February 17, signaling a significant surge in investor interest. The fund’s success mirrors BTC’s ascent, with a staggering $21 million inflow on Tuesday alone, totaling $230 million for the week.
Ranked fifth among American BTC funds, Bitwise joins the league of giants like Grayscale Bitcoin Trust (GBTC), iShares Bitcoin Trust (IBIT), and Wise Origin Bitcoin Trust (FBTC). The rise of US SEC-approved spot BTC ETFs has ignited a bullish rally in the cryptocurrency market, as predicted by prominent analysts like Crypto Rover.
BTC’s recent surge past $57,000, reaching a 25-month high at $52,079, solidifies its market dominance, boasting a value exceeding $1 trillion. With a remarkable 22% increase in value since February’s onset, BTC is poised for its most significant monthly uptick since October 2023. The approval of eleven spot ETFs by the SEC, with capital flows surpassing $1.64 billion, underscores the growing mainstream adoption of cryptocurrency investment vehicles, propelling BTC into a new era of financial prominence.