Bitcoin ETFs See Massive Trading Activity Post-Launch

By: Eva Baxter

The newly launched Bitcoin ETFs have seen a record trading volume of nearly $10 billion within the first three days, according to reports from Bloomberg ETF analysts. This number significantly overshadows the combined trading volume of all ETFs launched in 2023 which stood at a mere $450 million.

The leading Bitcoin ETF, Grayscale Bitcoin Trust, has logged over $5 billion volume. Other prominent players such as Blackrock's iShares and Fidelity's ETFs have also shown significant activity with a trading volume close to $2 billion and $1.5 billion, respectively.

Notably, despite the high trading volume for Grayscale's Bitcoin fund, the fund reported significant withdrawals, totaling to over $579 million since it started trading. But it continues to lead the pack in terms of liquidity among Bitcoin spot ETFs, followed closely by Blackrock's iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund.

As the demand for regulated financial markets exposure to digital assets increases, the Bitcoin ETFs are paving the way for both institutional and individual investors to explore traditional investment tools to trade Bitcoin.