2024-2-29 15:56 |
Quick Take
Yesterday, Feb. 28, the newborn-nine spot Bitcoin ETFs doubled their trade volume record, with roughly $6 billion traded.
BlackRock IBIT emerged as the frontrunner with $3.3 billion, followed by Fidelity with $1.4 billion. In addition, IBIT surpassed the Invesco QQQ ETF on its own, according to senior Bloomberg ETF analyst Eric Balchunas.
The previous record of $2.4 billion was set on Feb. 26, as reported by CryptoSlate, citing an analysis from Eric Balchunas.
Newborn Nine ETFs Volume: (Source: Eric Balchunas, Bloomberg)Balchunas reports that when taking Bitcoin futures ETFs like BITO into account, in addition to the ten-spot Bitcoin ETFs, the total trade volume soared to $10 billion. This surge presents a new record, significantly surpassing previous milestones, such as the BITO launch in 2021 and the ETF launch on Jan. 11, which were considerably lower in comparison.
Bitcoin ETF Complex: (Source: Eric Balchunas, Bloomberg)This trading tempest also spilled over to stocks, propelling Microstrategy into record-volume territory, according to Blachunas.
Coinciding with this trading frenzy was a record inflow of $673 million into ETFs, largely driven by BlackRock, with an influx of $612 million.
MicroStrategy Volume: (Source: Eric Balchunas, Bloomberg)The post Newborn Nine hits new peak with $6 billion in total trade volume appeared first on CryptoSlate.
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