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The daily trading volume of spot Bitcoin ETFs in the U.S. on January 16, 2024, surpassed $1.8 billion. Nearly half of this trading activity was attributed to Grayscale Bitcoin Trust (GBTC), which also experienced the highest capital outflows.
The overall trading volume of spot Bitcoin ETFs for the day was more than three times greater than the total of all 500 ETFs launched in the United States in 2023. This information was disclosed by Bloomberg analysts Eric Balchunas and James Seyffart. The comparison was $1.8 billion versus $450 million.
In a span of just three days, the trading volume of spot Bitcoin ETFs in the U.S. reached $9.68 billion, with three funds demonstrating the strongest performance:
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- Grayscale (GBTC) — $5.12 billion;
- BlackRock (IBTC) — $1.95 billion;
- Fidelity (FBTC) — $1.46 billion.
The top performer in net capital inflows was BlackRock’s iShares Bitcoin Trust, which attracted over $497 million from investors in the preceding two days. Conversely, investors in the Grayscale Bitcoin Trust ETF have been withdrawing their investments, with total outflows exceeding $579 million during the same timeframe.
The Grayscale fund has been operational since February 2019, enabling market participants to invest in BTC. However, since early 2021, the fund’s shares have been trading at a significant discount relative to the market price of BTC. Following the fund’s conversion into a spot ETF, the discount reached a low of 1.55%, prompting many investors to liquidate their positions.
On January 11, the U.S. Securities and Exchange Commission (SEC) officially approved applications from 11 investment firms to establish exchange-traded funds (ETF) based on Bitcoin. In the first two days following the launch, the influx of funds into spot Bitcoin ETFs was approximately $1.4 billion.
Сообщение Trading Volume of Spot Bitcoin ETFs Amounted to Nearly $9.7 Billion in 3 Days появились сначала на CoinsPaid Media.
