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The cumulative trading volume for U.S. spot Bitcoin Exchange-Traded Funds (ETFs) has soared past the $150 billion mark, a monumental achievement coming less than 10 weeks after the approval of Bitcoin ETFs by the Securities and Exchange Commission. This approval saw major players like BlackRock, Fidelity, and Bitwise launching their ETFs, sparking a significant uptick in Bitcoin investment interest.
Remarkably, the cumulative trading volume jumped by an additional $50 billion since March 8, peaking at $151.4 billion by the end of yesterday’s trading session. This surge is highlighted by BlackRock’s IBIT leading the charge with a $2.5 billion trading volume, closely followed by Grayscale’s GBTC and Fidelity’s FBTC.
Despite a record net outflow of $326.2 million in a single day, the market’s resilience is underscored by the ETFs’ substantial cumulative trading volumes. This trend not only reflects a growing investor appetite for Bitcoin but also signifies the cryptocurrency’s expanding mainstream acceptance and potential for long-term growth.
