As Bitcoin officially broke through its previous high, the trading volume of spot ETFs continued to perform strongly, and the trading volume of ten Bitcoin spot ETFs also hit a record high.

(Bitcoin broke all-time highs! After rising and then falling, the bulls were killed and nearly US$1.2 billion was wasted)

Bitcoin spot ETF hits new highs

Data released by Bloomberg analyst Eric Balchunas showed that the trading volume of ten Bitcoin spot ETFs (excluding Hashdex) reached $10 billion on the evening of the 5th, setting a record high since the first day of trading on January 11.

Data are as follows:

  • BlackRock: About $4 billion

  • Grayscale: ~$2.5 billion

  • Fidelity: About $2 billion

  • Ark: ~$400 million

Eric Balchunas pointed out that volatility and trading volume went hand in hand in the 6-day trading, but he was surprised that ETFs less than two months old could have such astronomical trading volumes, among which IBIT, FBTC, BITB and ARKB all hit new highs in trading volume.

MILESTONE: the ten Bitcoin ETFs did $10b in volume today, smashing prev record set last Wed.. Volatility and volume go hand in hand with ETFs so not totally surprised. That said these are bananas numbers for ETfs under 2mo old. $IBIT, $FBTC, $BITB, $ARKB all w record days. pic.twitter.com/rIdbhoYifV

— Eric Balchunas (@EricBalchunas) March 5, 2024

Multi-futures ETFs also hit new highs in trading volume

The strong performance of spot ETFs also affects the trading volume of multiple futures and strategic ETFs:

  • 2x Bitcoin Strategy ETF (BITX): $22.92 million

  • ProShares Bitcoin Strategy ETF (BITO): $2.488 billion

  • ProShares Short Bitcoin Strategy ETF (BITI): $299 million

Eric Balchunas believes that since even short-selling ETFs will be favored by users, when the 2x long and 2x short Bitcoin spot ETF is launched, it will also be welcomed to a certain extent. He did not expect the huge spillover effect that the Bitcoin spot ETF would have on the futures ETF.

This article Bitcoin hits 69,000, spot ETF trading volume reaches 10 billion US dollars, both record highs first appeared in Chain News ABMedia.