Major BTC Spot ETFs Witness Highest Trading Volume Since Mid-May

IconCryptoNewsTerminal Staff11 Jun, 2024

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Major BTC Spot ETFs Witness Highest Trading Volume Since Mid-May

The trading volume of some of the largest Bitcoin (BTC) spot exchange-traded funds (ETFs) has spiked to its highest level since May 15th. According to on-chain analytics platform Santiment, the combined trading volume of the top seven Bitcoin spot ETFs—Grayscale Bitcoin Trust (GBTC), Bitwise Bitcoin Fund (IBIT), Fidelity Bitcoin Index Fund (FBTC), ARK Innovation ETF (ARKB), ProShares Bitcoin Strategy ETF (BTCO), Valkyrie Bitcoin Strategy ETF (BITB), and Purpose Bitcoin ETF (HODL)—reached $2.91 billion on May 15th and $2.89 billion on the 11th. This surge in trading volume could be a sign that investors are becoming more bullish on Bitcoin and other cryptocurrencies. As the crypto market continues to recover from the recent sell-off, we could see even more trading volume in the coming weeks and months.

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