BTC Crosses $55K as Spot Bitcoin ETFs See Record Daily Trading Volume

Bitcoin (BTC) reached a two-year excessive of $56,444.64, coinciding with report buying and selling volumes for the 9 spot Bitcoin exchange-traded funds (ETFs).

BlackRock’s IBIT led the way in which with the very best day by day quantity on February twenty sixth, reaching $1.29 billion, marking a 30% improve from its earlier day by day report. Constancy’s FBTC adopted carefully with $576 million. ARKB and BITB additionally contributed important volumes of $276 million and $81 million, respectively.

Whereas the supply of this renewed curiosity stays unclear, Balchunas notes that buying and selling volumes typically spike at first of the week. Bloomberg’s James Seyffart provides that together with Grayscale’s Bitcoin ETF elevates the mixed day by day quantity to a hefty $3.2 billion, the second-largest ever recorded.

Additional information from BitMEX Analysis signifies that over $583 million flowed into spot Bitcoin ETFs in the course of the earlier four-day buying and selling week. 12 months-to-date inflows have now surpassed $5.5 billion, with IBIT, FBTC, ARKB, and BITB main the pack with inflows exceeding $1 billion every. Notably, Grayscale’s GBTC has skilled internet outflows of $7.4 billion to date this yr.

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