The Spot Bitcoin ETF continued its record-breaking efficiency this week, hitting greater than $10 billion in quantity on March 5, its highest quantity since its inception in January.

The earlier file was set on February 28, with whole ETF buying and selling quantity of roughly $7.7 billion.

IBIT, FBTC keep lead

Three spot Bitcoin ETFs accounted for the majority of the whole quantity. It closed with web inflows of $109.86 million throughout all ETFs.

BlackRock's iShares Bitcoin Belief (IBIT) accounted for roughly $4 billion in buying and selling quantity as of March 5, whereas Constancy Smart Origin Bitcoin Belief (FBTC) accounted for roughly $2 billion. Ta. Grayscale Bitcoin Belief (GBTC) recorded each day buying and selling quantity of $3 billion.

Eric Balchunas, Bloomberg ETF Analyst I wrote to X:

“These are bananas numbers for an ETF that’s lower than two (months) outdated.”

Early that morning, Balchunas predicted that The Spot Bitcoin ETF reached a complete of $6 billion at round 7:53 p.m. UTC, probably surpassing its earlier file.

Particular person ETFs set new data

Balchunas famous that IBIT, FBTC, BITB, and ARKB all recorded each day buying and selling volumes.

He additionally noticed distinctive efficiency amongst a number of non-spot ETFs that allow strategic investing. BetaPro Inverse Bitcoin ETF (BITI), ProShares Bitcoin Technique ETF (BITO), and 2x Bitcoin Technique ETF (BITX) all posted file buying and selling volumes.

A number of Bitcoin ETFs have been among the many most lively ETFs general. IBIT and BITO topped the checklist, outperforming S&P 500 ETF Belief (SPY) and Nasdaq QQQ Invesco ETF (QQQ), in line with Barchart information. GBTC and FBTC additionally ranked within the high 10 ETFs based mostly on quantity.

The New child 9’s spectacular efficiency has been a key driver of the current Bitcoin worth surge, the place demand has exceeded provide. For the primary time in historical past, a serious cryptocurrency hit a brand new all-time excessive earlier than its halving.

All volumes coincided with Bitcoin (BTC) worth reaching new highs. BTC briefly reached $69,324 on March fifth, surpassing the all-time excessive of $69,044 set in November 2021, however there was a pointy worth correction since then.