- Spot BTC ETF quantity on Tuesday, excluding Grayscale's GBTC, secured a brand new excessive of $2.4 billion.
- Bitcoin surpassed $56,000, hitting a two-year excessive.
- BlackRock Spot BTC ETF (IBIT) recorded a every day buying and selling quantity of $1.29 billion.
Quantity of the New 9 Spot Bitcoin Trade Traded Fund (ETF) reached an all-time excessive of $2.4 billion on February twenty sixth, surpassing the earlier file set on January eleventh, the primary day of buying and selling. Excludes quantity from Grayscale's Bitcoin ETF product (GBTC).
The spike in buying and selling quantity coincides with Bitcoin's meteoric rise, reaching $56,660 on Monday, in accordance with knowledge from CoinMarketCap. That is the best value in two years, however it’s nonetheless beneath the height of $69,044 recorded on November 10, 2021.
In line with Eric Balchunas, a distinguished analyst at BlackRock's iShares Bitcoin Belief (IBIT), dominated The market set its personal single-day file on February 26 with a buying and selling quantity of $1.29 billion, a rise of a whopping 30%. An in depth second was Constancy's FBTC, which secured second place with buying and selling quantity of $576 million.
Important inflows have been additionally reported from the ARK 21Shares (ARKB) and Bitwise (BITB) ETFs, which amassed $276 million and $81 million, respectively.
Bloomberg ETF analyst James Seifert joined Balchunas in observing the unprecedented surge in quantity. Concentrate on it February twenty sixth was the second-largest buying and selling day with $3.2 billion, together with Grayscale Bitcoin ETF flows.
Balchunas was prompt It was revealed early Monday morning that buying and selling volumes usually spike firstly of the buying and selling week. Notably, IBIT's achievement of passing the $1 billion milestone underscores its place because the eleventh most traded ETF, and BlackRock's product has 10 different rivals. Contemplating this, that is a powerful feat. knowledge This represents greater than $583 million flowing into the Spot Bitcoin ETF through the earlier four-day buying and selling week (February 20-23).
Yr-to-date capital inflows have exceeded $5.5 billion, with IBIT, FBTC, ARKB, and BITB main the best way with inflows of $5.9 billion, $4 billion, $1.4 billion, and $1 billion, respectively. In distinction, GBTC skilled an outflow of $7.4 billion.
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