Recently launched spot Bitcoin exchange-traded funds (ETFs) have experienced a surge in trading volumes, marking a second consecutive day of combined volumes exceeding $2 billion.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) achieved a record daily volume of $1.3 billion, surpassing the trading volumes of many large-cap U.S. stocks. The ETF witnessed over 100,000 individual trades on Feb. 27, indicating a significant increase compared to its average daily trades.
The Fidelity Wise Origin Bitcoin Fund (FBTC) recorded a daily volume of $578 million, while the ARK 21Shares Bitcoin ETF (ARKB) ranked third in terms of trade volume, reaching $204 million.
This marks the second consecutive day that the nine new ETFs have exceeded $2 billion in daily volume since their launch on Jan. 11. On Feb. 26, trading volumes for these ETFs surpassed $2.4 billion, setting a new record.
The reported volumes exclude trading activity from the Grayscale Bitcoin Trust (GBTC). Preliminary data from Farside Investors indicates outflows of $22.4 million on Feb. 26 and $125.6 million on Feb. 27 from GBTC.
ETF Store President Nate Geraci shared a chart illustrating the declining proportion of Grayscale’s ETF volume compared to that of other ETFs.
Preliminary flow data from Farside Investors reveals a combined net inflow of $574 million for the ETFs on Feb. 27, with BlackRock’s IBIT leading with $520 million in net inflows, followed by Fidelity’s FBTC with $126 million.
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