U.S. spot Bitcoin ETF trading volume hit a new daily high just hours after BTC hit a record price of around $69,000.
Volume in the 10-fund segment was about $9.5 billion on Tuesday, according to data from Yahoo Finance – surpassing the previous record of about $7.6 billion set on February 28.
BlackRock's iShares Bitcoin Trust (IBIT) once again led the way in volumes, with $3.7 billion worth of shares in the fund trading on the day.
Read more: Is it too early to name BlackRock as the winner of the Bitcoin ETF segment?
This was followed by volumes for the Grayscale Bitcoin Trust ETF (GBTC) and the Fidelity Wise Origin Bitcoin Fund (FBTC) at $2.8 billion and $2 billion, respectively.
“Volatility and volume go hand in hand in ETFs, so they’re not entirely surprising,” Bloomberg Intelligence analyst Eric Balchunas said in an X post. “However, these are bananas numbers for ETFs.” [two months] old.”
Demand for US spot Bitcoin ETFs has surged in recent weeks as BTC price hit an all-time high on Tuesday. The Securities and Exchange Commission approved the offerings in January after years of blocking such funds – opening easier access to Bitcoin exposure to a wider range of investors.
The asset rose above $69,000 around 10 a.m. ET. The price of Bitcoin (BTC) was around $62,000 as of 4:00 p.m. ET – about 10% below its peak.
According to BitMEX research data, the ten Bitcoin funds have seen net inflows of around $8 billion since their launch on January 11 – a sum that came despite net outflows of nearly $9.3 billion for the higher-priced GBTC.
About $1.6 billion of the segment's positive inflows came last week, in which the category's trading volume reached a record $22 billion.
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