Spot Bitcoin ETFs Continue Breaking Records — Smashing $100 Billion in Trading Volume

Spot Bitcoin ETFs Continue Breaking Records — Smashing $100 Billion in Trading Volume
фото показано с : zycrypto.com

2024-3-10 19:38

In a thrilling turn of events for crypto enthusiasts, Bitcoin Exchange-Traded Funds (ETFs) have witnessed a historic milestone, with cumulative trading volumes smashing through the $100 billion mark. This surge comes with Bitcoin’s new all-time high, moving around the $69,000 level. The crypto market is full of excitement as investors and industry leaders closely watch what happens next.

BlackRock Takes the Lead

BlackRock, a financial powerhouse that reported an impressive trading volume of over $3.7 billion through its iShares Bitcoin Trust (IBIT), is first in this record-breaking spree. As one of the major players in the financial world, BlackRock’s significant involvement shows the growing legitimacy of crypto assets in traditional finance.

Contributions to this historic day in crypto trading are not limited to BlackRock alone. Grayscale’s Bitcoin Trust ETF (GBTC) secured trades worth approximately $2.8 billion, closely followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC), with trading volume exceeding $2 billion. ARK Invest, Bitwise, Invesco, and WisdomTree contributed substantially to the $100 billion figure.

Bitcoin’s Price Rollercoaster

While Bitcoin’s value reached an all-time high of around $69,000, the inherent volatility of the crypto market was on full display. After heavy fluctuations, BTC settled around $63,400. Analysts, including Eric Balchunas from Bloomberg Intelligence, highlight that this volatility might be intimidating for some, but it’s one of the main reasons for the success of Bitcoin ETFs.

The Securities and Exchange Commission’s earlier approval of US spot Bitcoin ETFs has played a pivotal role in fueling the surging interest in these financial instruments. This regulatory green light has significantly eased the path for investors to participate in the crypto market, signalling the maturity of crypto assets.

Challenges and Opportunities for Issuers

Recent decisions by Wells Fargo and Bank of America to offer access to Bitcoin ETFs on an “unsolicited basis” have introduced a challenge for issuers. This shift in approach has significant implications for the Bitcoin ETFs and how they’re perceived.

As Bitcoin ETFs continue to break records, surpassing the $100 billion mark in trading volume, the crypto market is transforming daily. The involvement of major institutions, regulatory milestones, and evolving dynamics show the increasing integration of cryptocurrencies into traditional systems.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61004.26 (+0.32%)
Объем 24H $13.152b
Изменеия 24h: 0.33 %, 7d: -4.18 %
Cегодня L: $60739.69 - H: $61099.25
Капитализация $1201.616b Rank 1
Цена в час новости $ 68498.23 (-10.94%)

100 billion trading smashing bitcoin etfs historic

100 billion → Результатов: 126


What Are the Main DeFi Use Cases?

Key Takeaways: – Decentralized finance (DeFi) has witnessed staggering growth in 2020.– There is now more than $11 billion locked in Ethereum DeFi platforms and more than 100,000 users. – Open lending platforms, decentralized exchanges, and digital asset staking are among the most common use-cases, but new tools and platforms are emerging regularly.– Though many DeFi […]

2020-10-17 19:10


Bitcoin Recording Third Best Quarterly Close & Another Strong Q2, But Q3 Paints a ‘Challenging’ Picture

Bitcoin is currently trading above $9,100 in green with just $1.1 billion in ‘real’ trading volume. The leading digital currency has recovered 140% since the March crash but is up only 27% YTD. Despite the minimal yearly gains and ending the first quarter of 2020 on a red note of 10.58%, the second quarter has […]

2020-7-1 19:15