The United States’ Bitcoin exchange-traded funds (ETF) yesterday reached a record high of $10 billion in trading volume, coinciding with Bitcoin’s new all-time high.
However, the price of Bitcoin then dropped by around 12% within the following five hours. According to Bloomberg ETF analyst Eric Balchunas, these numbers are impressive for ETFs that were launched less than two months ago.
Alessandro Ottaviani, a Bitcoin analyst, reported a slightly lower trading volume of $9.58 billion for the funds, which is still higher than the previous record of $7.7 billion set on February 28.
Out of the various ETFs, BlackRock’s iShares Bitcoin ETF (IBIT) had the highest trading volume at $3.7 billion, followed by Grayscale Bitcoin Trust (GBTC) with $2.8 billion and Fidelity Wise Origin Bitcoin Fund (FBTC) with $2 billion, based on Ottaviani’s data.
