US BTC Spot ETF Daily Trading Volume Surges to Over $5B for First Time Since Mid-April
CryptoNewsTerminal Staff05 Aug, 2024
US BTC Spot ETF Daily Trading Volume Surges to Over $5B for First Time Since Mid-April
## US BTC Spot ETF Trading Volume Surges Past $5 Billion The daily trading volume of US Bitcoin spot ETFs surpassed $5 billion on January 5th, marking the first time since mid-April that it has exceeded this level. BlackRock's Bitcoin spot ETF, IBIT, recorded the highest daily trading volume of nearly $3 billion, boosting its assets under management by $172 million. Fidelity's FBTC followed with a trading volume of $858 million. Grayscale's GBTC, the largest Bitcoin trust, recorded a daily trading volume of $693 million, but experienced a net outflow of approximately $148 million. ## Liquidity and Market Sentiment Bloomberg's senior ETF analyst, Eric Balchunas, noted that while high trading volume during poor market conditions can indicate fear, it also suggests abundant liquidity, which can be attractive to traders and institutions. The surge in trading volume suggests that there is still significant interest in Bitcoin spot ETFs, despite the recent market downturn. It also highlights the growing liquidity and acceptance of these products as investment vehicles.
