Bitcoin spot ETF’s reaches 2.4B in trading volume

On February 26, Bitcoin exchange-traded futures (ETFs) experienced a record-breaking surge in trade volumes, hitting $2.4 billion within 24 hours.

This event was triggered by a significant rise in Bitcoin’s value above $56,000 USD, setting a new benchmark for the crypto market, particularly for the newly launched Bitcoin ETFs.

In addition, the surge comes after simultaneous increase in Bitcoin’s price, suggesting a connection. This possibly drove investors towards Bitcoin ETFs as a more accessible investment option.

Note that BlackRock’s iShares Bitcoin ETF contributed 55% (over $1B) of the total volumes, while other key players like Grayscale GBTC also contributed to the $2.4 billion record.

This event shows a growing interest in crypto-related investments among mainstream investors, as ETFs offer a regulated and simpler way of investing in crypto.

Additionally, the success of these ETFs highlights their role in integrating traditional investment avenues with the dynamic world of digital currencies.