BlackRock’s spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), experienced its second consecutive day of robust trading on Tuesday, after recording over $1.3 billion in trading volume.
As Bitcoin’s price climbed past $57,000, IBIT saw $1.357 billion in trading volume, according to data from Bloomberg ETF analyst Eric Balchunas, with the figure eclipsing its previous record of $1.3 billion set on Monday. Nearly 42 million shares changed hands, double the average since the fund’s launch in January.
While IBIT dominated in terms of volume, it took third place in net inflows on Monday. Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw the highest inflows at $243 million, followed by Ark and 21Shares’ ARKB at $131 million. IBIT garnered $111 million, a relatively low number compared to its average since its debut.
Meanwhile, Grayscale’s Bitcoin Trust (GBTC), which was converted to a Bitcoin ETF on January 11, has seen $7.4 billion of outflows and hasn’t yet seen a single day of inflows since the conversion.
Monday’s elevated volume was accompanied by significant inflows, with the funds collectively attracting $520 million, according to BitMex Research. This suggests that despite some outflows from Grayscale’s GBTC, there is a net positive flow of investment into the newer spot-based ETFs.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.cryptocompare.com/email-updates/daily/2024/feb/28/
