Spot Bitcoin ETFs set trading volume record amid BTC price high
U.S.-based Bitcoin ETFs saw $10 billion in trading volume on March 5, beating last week's $7.7 billion record.
The United States spot Bitcoin
tickers down
$63,580
exchange-traded funds (ETF) had a record $10 billion in trading volume on March 5 as Bitcoin notched a new all-time high before it plummeted around 12% over the next five hours.
“These are bananas numbers for ETFs under [two months] old,” Bloomberg ETF analyst Eric Balchunas said in a March 5 X post reporting the figures.
Bitcoin analyst Alessandro Ottaviani posted a slightly lower trading volume of $9.58 billion for the funds — which still beat the previous record of $7.7 billion set on Feb. 28.
Advertisement
BlockShow by Cointelegraph is back with a crypto festival in Hong Kong, May 8-9 - Secure Your Spot!
Ad
BlackRock’s iShares Bitcoin ETF (IBIT) saw the most volume at $3.7 billion, while the Grayscale Bitcoin Trust (GBTC) and the Fidelity Wise Origin Bitcoin Fund (FBTC) respectively tallied $2.8 billion and $2 billion, per Ottaviani’s figures.
Bitcoin saw significant price swings over the U.S. trading day, hitting a new all-time high of $69,200 at around 3:00 pm UTC on March 5, then falling 12% to a low of $60,860 about five hours later, according to CoinGecko.
Bitcoin has partially recovered to $63,350 at the time of writin
$BTC
