New spot Bitcoin ETFs reach all-time high in trading volume

On February 26, the nine newly launched spot Bitcoin exchange-traded funds (ETFs) set a new record in daily trading volume, excluding Grayscale’s GBTC.

As per the latest findings by Bloomberg’s top ETF analyst, Eric Balchunas, there was an impressive surge in net inflows to ETFs, amounting to $2.4 billion, which significantly exceeded average daily flows.

BlackRock’s iShares Bitcoin Trust (IBIT) led the charge with $1.29 billion in trading activity, representing over 50% of the total net inflows.

Other top performers included Fidelity’s FBTC, ARK 21Shares’ ARKB, and Bitwise’s BITB, each recording notable investment flows.

Bitcoin’s approaching $55,000 price triggered a significant increase in trading activity, reflecting heightened investor enthusiasm toward the cryptocurrency market.

It’s official… The nine new Bitcoin ETFs broke an all-time volume record today with $2.4 billion, barely surpassing the first day but roughly double their recent daily average.

Eric Balchunas, senior ETF analyst at Bloomberg

New ETFs Command 1.5% of Bitcoin Supply

The newly launched ETFs now command nearly 1.5% of the entire Bitcoin supply, amounting to 21 million BTC. This holding surpasses that of the software giant MicroStrategy, which owns 193,000 BTC, quadruples the Bitcoin holdings of stablecoin issuer Tether at 66,465 BTC, and exceeds the total holdings of all public Bitcoin mining operations.

Leading the pack, BlackRock’s IBIT spot Bitcoin ETF has amassed over 128,000 BTC, equating to $7 billion in assets under management, with Fidelity’s FBTC ranking as the second largest among the newcomers, holding over 94,000 BTC valued at $5 billion, as per BitMEX Research.

Contrastingly, the assets under management by Grayscale’s converted GBTC fund have witnessed a steep decline of more than 28%, plummeting from approximately 619,000 BTC ($35 billion) to 444,000 BTC ($25 billion) since January 11, based on data from CoinGlass.

Earlier in the day, IBIT achieved a significant milestone by trading assets worth $1 billion. This accomplishment not only secured its 11th position among all ETFs, categorizing it within the elite top 0.3%, but also placed it among the top 25 stock entities.

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