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Bitcoin ETF Trading Hits Milestone: Surpasses $1 Billion in Daily Volume

Bitcoin ETF Trading Hits Milestone: Surpasses $1 Billion in Daily Volume

Key Takeaways

  • BlackRock's IBIT fund takes the lead in trading Bitcoin ETFs, which topped over $1 billion in daily trading volume on February 7.
  • Spot Bitcoin ETFs witness significant inflows, outpacing outflows from GBTC for the ninth day in a row, with BlackRock, Fidelity, and Bitwise experiencing notable increases in inflows.
  • The combined BTC holdings of newly launched ETFs approach those of MicroStrategy, indicating a significant shift in investor sentiment towards ETFs as a preferred investment vehicle for Bitcoin.

February 7 marked a milestone for spot Bitcoin exchange-traded funds (ETFs), with total daily trading volume surpassing $1 billion.

Among the key players, BlackRock's iShares Bitcoin Trust (IBIT) emerged as a leader, with a daily trading volume totaling $341.2 million, outperforming competitors such as the Grayscale Bitcoin Trust (GBTC) and Fidelity's FBTC fund.

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The consistent flow of funds into spot Bitcoin ETFs has been evident, with the ninth consecutive day witnessing more inflows compared to outflows from GBTC.

Fred Krueger, an investor and author, reflected on the growing acceptance and adoption of Bitcoin ETFs among investors, saying:

ETFs are eating the world. They ate every other asset class, and they’re having Bitcoin for dessert.

In a related development, Fidelity reportedly integrated spot Bitcoin into its All-in-One Conservative ETF, further indicating the increasing mainstream acceptance of cryptocurrency ETFs. 

As of February 8, the combined BTC holdings of the newly launched nine ETFs were on the verge of surpassing those of MicroStrategy, a prominent corporate holder of Bitcoin. BlackRock's fund surged by $56 million, Fidelity recorded inflows of $130 million, and Bitwise received inflows of $21 million.

This surge in trading volume and investor interest underscores the growing mainstream acceptance and adoption of Bitcoin and cryptocurrency ETFs, signaling a new phase in the evolution of digital asset investment.

Another big day for the spot Bitcoin ETF happened in January with the SFC application in Hong Kong.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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