Ten new U.S. spot bitcoin exchange-traded funds (ETFs) have shattered both inflow and trading volume records. The 10 funds took in $673.4 million, with Blackrockās Ishares Bitcoin Trust (IBIT) accounting for $612.1 million of the total inflow. The 10 bitcoin ETFs also set a new record for total trading volume.
10 Bitcoin ETFs Smash Inflow and Trading Volume Records
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Spot Bitcoin ETFs Set New Records
Ten recently launched spot bitcoin exchange-traded funds (ETFs) set records for both inflows and trading volumes on Wednesday. The total net inflow for all 10 spot bitcoin ETFs, which included the $216.4 million outflow from Grayscaleās bitcoin trust (GBTC), amounted to $673.4 million, according to data compiled by Bitmex Research. This beat the $655.2 million record inflow set on Jan. 11, the first day of trading for the 10 funds. Blackrockās Ishares Bitcoin Trust (IBIT) alone brought in $612.1 million, breaking its personal record of $520.2 million set the previous day.
Besides Blackrockās IBIT and Grayscaleās GBTC, the other spot bitcoin ETFs are Fidelity Wise Origin Bitcoin Fund (FBTC), Ark 21shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Invesco Galaxy Bitcoin ETF (BTCO), Wisdomtree Bitcoin ETF (BTCW), Vaneck Bitcoin Trust ETF (HODL), Franklin Bitcoin ETF (EZBC), and Valkyrie Bitcoin ETF (BRRR). They began trading on Jan. 11 after the U.S. Securities and Exchange Commission (SEC) approved them the previous day.
The 10 spot bitcoin ETFs also broke their trading volume record on Wednesday. Bloomberg analyst James Seyffart opined:
The bitcoin ETFs are absolutely demolishing their prior trading volume record from day 1.
Another Bloomberg analyst, Eric Balchunas, detailed on X Wednesday that when considering nine spot bitcoin ETFs, without taking GBTC into account, the nine ādoubled their volume record,ā which was set on Monday, with about $6 billion traded.
Blackrockās IBIT led with $3.3 billion of the total volume while Fidelityās FBTC did $1.4 billion. He noted that both doubled their previous records. āThe total number of trades was double too, over half a million individual trades between them,ā the analyst noted, adding:
If we add in GBTC the Ten [ETFs] still destroyed old record which was from Day One w/ nearly $8b.
Balchunas additionally noted: āThe trading explosion is spilling into the bitcoin futures ETFs as well, check out BITX, the 2x BTC futures smashing its volume record ā¦ BITO and BITI also headed towards record days.ā
What do you think about spot bitcoin ETFs repeatedly breaking records in trading volumes and inflows? Let us know in the comments section below.
