With a large influx of funds pouring into Bitcoin spot ETFs, the price of Bitcoin today (27th) has broken through the new high since the beginning of December 2021, reaching $57,000 earlier. According to Eric Balchunas, a senior ETF analyst at Bloomberg, the total trading volume of 9 newly launched US Bitcoin spot ETFs on Monday reached $2.4 billion, setting a record for single-day trading volume since their launch.
Balchunas stated that the trading volume of Bitcoin spot ETFs yesterday was about twice the recent average daily trading volume, with BlackRock’s Bitcoin spot ETF (ticker: IBIT) leading by a significant margin with a trading volume of nearly $1.3 billion.
Balchunas also pointed out that when IBIT’s trading volume surpassed $1 billion earlier in the day, it ranked 11th among all ETFs (top 0.3%) and top 25 in stocks, which is “an astonishing number for a newly launched ETF (especially with 10 competitors)”. He added:
Last week, Bloomberg reported that Carson Group, a registered investment advisor platform with assets under management of $30 billion, approved four Bitcoin spot ETFs for its clients, including IBIT, Fidelity’s FBTC, Franklin Templeton’s EZBC, and Bitwise’s BITB, which will be offered to financial advisors using Carson Group services.
Data released by digital asset management company CoinShares on Monday showed that the net inflow of funds into digital asset investment products last week reached $598 million, marking four consecutive weeks of net inflows, with net inflows exceeding $5.7 billion year-to-date.