{"id":13678,"date":"2024-02-28T20:30:26","date_gmt":"2024-02-28T20:30:26","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=13678"},"modified":"2024-02-28T20:03:18","modified_gmt":"2024-02-28T20:03:18","slug":"bitcoin-etfs-continue-to-break-records","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-etfs-continue-to-break-records\/","title":{"rendered":"Bitcoin ETFs Continue to Break Records!"},"content":{"rendered":"

Nine of the spot Bitcoin exchange-traded funds (ETFs)<\/strong> launched in January managed to exceed $2 billion<\/strong> in volume on two consecutive trading days thanks to the continued interest in ETFs.<\/p>\n

Bitcoin ETFs<\/a> Volumes Continue to Break Records!<\/span><\/h2>\n

Bloomberg ETF analyst Eric Balchunas<\/strong> described today as a \u201cdifferent intensity volume day for the nine ETFs, excluding GBTC<\/strong>\u201d in a post on his social media account.<\/p>\n

In the BlackRock ETF<\/strong>, Eric mentioned a record-breaking daily volume of $1.3 billion<\/strong>, which is more than most major capital US firms, and added, “I don’t know whether this is a new normal or a surge related to a kind of short-term strategy.<\/strong>”<\/p>\n

Balchunas said that BlackRock’s iShares Bitcoin ETF ($IBIT)<\/strong> traded more than 100,000 on February 27, which is higher than the average daily 30-60 thousand transactions.<\/p>\n

Thus, along with the volume increase in other ETFs, it was the second trading day that their daily volumes have exceeded $2 billion since the launch of the nine new ETFs.<\/p>\n

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Another intense volume day for the Nine with well over $2b traded. $IBIT<\/a> broke its personal record again w\/ $1.3b (for context that’s more than most large cap US stocks trade). I don’t know if this is a new normal or some kind of short-term algo\/arb-related burst a la $HODL<\/a>. pic.twitter.com\/KkCkdQKe9r<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) February 27, 2024<\/a><\/p><\/blockquote>\n