- On March 4, the trading volume of 10 spot bitcoin-ETFs exceeded $5.5 billion.
- Net inflow amounted to $164.4 million.
- The leader is still the IBIT fund, whose AUM exceeded $11 billion.
On March 4, 2024, the trading volume of spot bitcoin-ETFs exceeded $5.5 billion. Bloomberg Intelligence analyst Eric Balchunas noted that this is the second largest value since the launch of this class of funds.
Confirmed: today was the second largest volume day for the Ten at about $5.5b. $IBIT alone did $2.4b of it and has crossed $11b in aum. Each of them is up over 30% in 6 days, which will prob help keep the flow ball rolling. Getting a bit of ARK Mania deja vu.
- Eric Balchunas (@EricBalchunas) March 4, 2024
According to his data, BlackRock’s iShares Bitcoin Trust (IBIT) alone saw $2.4 billion in trading volume, with the fund’s assets under management (AUM) exceeding $11 billion.
Each of the spot bitcoin-ETFs marked an increase of 30% over the past six days, the expert added. According to him, this contributes to further increase in performance.
The record in the sector was recorded on February 28, 2024. On that day, the trading volume approached $6 billion. Recall, it is the high demand for these products, the consequence of which is such activity in the segment, experts consider the main driver of bitcoin price growth:
According to SoSo Value, net capital inflow into spot bitcoin-ETFs on March 4, 2024 amounted to $164.6 million. Before that, on March 1, the sector recorded an outflow for the first time in six days:
Note that for some positions the information has not yet been updated. Among them, in particular, IBIT. With the exception of this fund and Grayscale Bitcoin Trust ETF (GBTC), the leader in terms of funds raised is Fidelity Wise Origin Bitcoin ETF (FBTC) from provider Fidelity Investments.