Bitcoin ETFs See $2B in Volume for 2nd Straight Day

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Nine recently launched spot Bitcoin ETFs have seen a surge in trading volume for the second consecutive day, with combined volume exceeding $2 billion. This signals strong demand and interest in the market.

In a post by Bloomberg ETF analyst Eric Balchunas on Feb. 27, he described the continued high volume as “intense” for the nine ETFs, including Grayscale’s Bitcoin trust conversion.

Balchunas also noted that BlackRock’s ETF set a new daily volume record of $1.3 billion, surpassing many large-cap US stocks. Balchunas acknowledged that it is unclear if this level of trading volume will continue or if it is a temporary surge due to algorithms or arbitrage.

He also shared that BlackRock’s iShares Bitcoin ETF (IBIT) saw over 100,000 individual trades on Feb. 27, a significant increase from the average daily trades of 30,000 to 60,000.