Nine recently launched spot bitcoin exchange-traded funds (ETFs) broke their all-time daily volume record on Monday as the price of bitcoin soared. “It’s official…the new nine bitcoin ETFs have broken all-time volume record today with $2.4b,” said a Bloomberg ETF analyst, noting that Blackrock’s Ishares Bitcoin Trust (IBIT) “went wild,” breaking its record by about 30%.
Spot Bitcoin ETFs Breaking Record
Interest in spot bitcoin exchange-traded funds (ETFs) surged on Monday, generating a record $2.4 billion in trading volume. Blackrock’s Ishares Bitcoin Trust (IBIT) drove a significant portion of this activity, accounting for $1.3 billion of the total volume. Bloomberg ETF analyst Eric Balchunas detailed on social media platform X:
It’s official..the new nine bitcoin ETFs have broken all-time volume record today with $2.4b, just barely beating Day One but about double their recent daily average. IBIT went wild accounting for $1.3b of it, breaking its record by about 30%.
The nine spot bitcoin ETFs are Blackrock’s Ishares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC), Ark 21shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), Invesco Galaxy Bitcoin ETF (BTCO), Wisdomtree Bitcoin ETF (BTCW), Vaneck Bitcoin Trust ETF (HODL), Franklin Bitcoin ETF (EZBC), and Valkyrie Bitcoin ETF (BRRR). They began trading on Jan. 11 after the U.S. Securities and Exchange Commission (SEC) approved them the previous day.
Grayscale Investments’ bitcoin ETF (GBTC), which was converted from the Grayscale Bitcoin Trust, also began trading on Jan. 11. However, the fund has experienced major outflows since its launch. When including GBTC data, “the entire bitcoin ETF category had its 2nd most traded day ever at $3.2 billion,” another Bloomberg analyst, James Seyffart, described. “Only day larger was launch day when they traded $4.6 billion,” he added. “Without GBTC this is a record volume number for the Newborn Nine as Eric pointed out.”
From Jan. 11 to Feb. 26, the 10 spot bitcoin ETFs, including GBTC, saw a combined net inflow of $6.03 billion, according to Bitmex Research. The launch day saw the highest inflow of $655.2 million, followed by Feb. 13 with $631.2 million.
The record spot bitcoin ETF volume coincided with a surge in bitcoin’s price on Monday. BTC broke the $54,000 barrier for the first time since 2021. The cryptocurrency subsequently reached $57,000, wiping out $70 million in short positions within an hour. At the time of writing, bitcoin is trading at $56,835.
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