Bitcoin (BTC) and several spot-backed Bitcoin ETFs have experienced an unprecedented increase in trading volumes, reaching $2.4 billion within 24 hours. This has set a new standard for the crypto market and occurred mid-week.
The exact catalyst for this trend is difficult to pinpoint, but some believe bitcoin’s recent momentum could have prompted investors to turn to ETFs as an accessible investment vehicle.
Nine of the eleven Spot Bitcoin ETFs approved by the SEC in January are experiencing record trading volumes, with BlackRock’s ETF taking the lion’s share.
Bitcoin ETFs, including BlackRock’s Bitcoin ETF, have seen a surge in trading volumes, with 55% of total trading volume being shared among eight Spot Bitcoin ETFs. This surge indicates an increasing interest among traditional investors for crypto-related investments, as ETFs offer a regulated and simplified approach.
These ETFs are particularly attractive for those concerned about risks associated with direct investments in cryptos like bitcoin. As the hype around the flagship crypto continues, ETFs may gain even more popularity.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
