Spot bitcoin ETF cumulative trading volume crosses $100 billion

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The Block2024/03/08 15:47

By:RT Watson

Cumulative trading volume for spot Bitcoin ETFs surpassed $100 billion after launching less than two months ago.Volumes have surged in the last two week’s including this Monday when the combined buying and selling activity for spot bitcoin ETFs nearly hit $10 billion.

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After their January debut, the newly launched U.S. spot Bitcoin BTC +1.48% ETFs kicked off to a roaring start and have now reached a significant level.

Over the past two weeks, accelerated activity has pushed the price of Bitcoin to new heights. On Friday, spot Bitcoin ETFs reaching the important trading milestone of over $100 billion, according to Yahoo Finance data compiled by The Block.

Passing the $100-billion mark comes after Monday's nearly $10 billion in cumulative trading volume and last week's record-breaking result. Cumulative trading volumes for the spot bitcoin ETFs totaled a record $22.3 billion last week, according to The Block’s data dashboard.

Overall the three most popular products, in terms of volume, have been those offered by BlackRock, Fidelity and Grayscale. On Tuesday of this week, BlackRock’s fund hit new record for daily inflows of $788.3 million as bitcoin reached a new all-time high above $69,000 for the first time since November 2021.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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