According to information shared by Bloomberg analyst James Seyffart, the cumulative trading volume of Bitcoin spot ETF in the past three trading days has reached nearly an astonishing $10 billion. The largest trading volume is Grayscale’s GBTC ($5.17 billion), followed by Blackrock’s IBIT ($1.99 billion) and Fidelity’s FBTC ($1.47 billion).
Analyst Eric Balchunas believes that a trading volume of tens of billions of dollars is quite remarkable. In 2023, a total of 500 new ETFs were launched, with a total trading volume of only $4.5 billion, with half of the volume being less than $1 million.
In terms of fund flow data, GBTC became the only Bitcoin ETF to experience net outflows due to its high management fees, with outflows of approximately $579 million in the past three days and still holding $25.5 billion in assets under management. On the other hand, Blackrock’s IBIT and Fidelity’s FBTC both saw net inflows exceeding $4 billion. Overall, the Bitcoin spot ETF market saw net inflows of approximately $810 million in the past three trading days.