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Bitcoin Spot Etf (Exchange-Traded Fund) Volumes Broke New Records.

BlackRock IBIT achieved a new record by surpassing 50% of the daily trading volume.

New spot Bitcoin exchange-traded funds (ETFs) reached new heights in trading volumes as Bitcoin hit $54,938 on Monday. According to information shared by Bloomberg's ETF analyst Eric Balchunas, the combined trading volume of nine ETFs exceeded $2.4 billion on February 26, surpassing the previous record of $2.2 billion recorded on their first trading day, January 11. This calculation does not include the volume of Grayscale's product, GBTC, which has been converted into a Bitcoin ETF.

BlackRock's IBIT fund stood out on February 26 with a trading volume of $1.29 billion, improving its own daily trading volume record by approximately 30%. Fidelity's FBTC fund followed with a volume of $576 million, while the ARK 21Shares (ARKB) and Bitwise (BITB) ETFs reached trading volumes of $276 million and $81 million, respectively.

Balchunas refrains from making definitive statements about the source of this increased interest, noting that volumes typically increase on the first day of trading weeks. Bloomberg ETF analyst James Seyffart emphasized that February 26, including flows to the Grayscale Bitcoin ETF, marked the second busiest trading day of all time with $3.2 billion.

In the early hours of the day when IBIT surpassed the $1 billion trading volume mark, Balchunas noted that IBIT had risen to 11th place among all ETFs. He evaluated this situation as, "An incredible feat for a new ETF, especially one with so many competitors. A daily trading volume of $1 billion is significant even for large institutional investors, signaling substantial volume."

According to CoinGecko, on February 26, Bitcoin reached a two-year high of $54,938, yet this figure remained below its record high of $69,044 set on November 10, 2021.

As BitMEX Research noted, while net flow data for February 26 is not yet available, there was an inflow of $583 million into spot Bitcoin ETFs during the four-day trading period of the previous week.

On February 21, for the first time since January 25, a net outflow of $35.7 million was recorded, marking a day without any inflows.

Since the beginning of the year, the total inflow into ETFs has exceeded $5.5 billion.

IBIT, FBTC, ARKB, and BITB ETFs reported the highest inflow amounts of $5.9 billion, $4 billion, $1.4 billion, and $1 billion respectively, while GBTC experienced an outflow of $7.4 billion.

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