Due to a retracement following Bitcoin's new all-time high, trading volume for U.S.-listed spot bitcoin ETFs surpassed $10 billion on Tuesday, the highest day ever.
With a volume of $3.8 billion, BlackRock's IBIT ranked fourth among all exchange-traded funds (ETFs), according to statistics from Barchart. If an ETF is less than two months old, "these are bananas numbers," remarked one expert.
On Tuesday, U.S.-listed spot bitcoin ETFs experienced their busiest trading day ever due to the catastrophic collapse of bitcoin's {{BTC}} price, which had previously reached an all-time high of almost $69,000. The price plummeted more than 10%.
According to Bloomberg data provided by Eric Balchunas, an ETF analyst at Bloomberg Intelligence, the ten ETFs broke last week's daily record for trading volume, which reached $10 billion, during the session
Balchunas mentioned that four funds—IBIT (BlackRock), FBTC (Fidelity), BITB (Bitwise), and ARKB (Ark Invest and 21Shares)—broke their own volume records.
With a volume of more than $3.8 billion, BlackRock's IBIT ranked fourth among all exchange-traded funds (ETFs), according to statistics from Barchart.
These are bananas numbers for ETFs under 2 months old," Balchunas added. On January 11th, the U.S. market for spot Bitcoin ETFs opened for trading.
Strong net inflows last week caused bitcoin ETF trading to be intense, as the funds received nearly $1.7 billion in new capital. Traders may be taking profits today due to the extreme volatility or the decision to sell ETF shares in order to lock in bitcoin's 50% price rise over the past month.
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