Positive volumes of Bitcoin purchases continue to be pumped from ETFs

in LeoFinance2 months ago

At the time of writing we are in a scenario of euphoria and I would say very positive for the price action that Bitcoin is registering at $54,588, now well worth noting that this momentum is related to purchases of BTC units coming from ETFs.

According to information disclosed by Brayden Lindrea, "Trading volumes of the "new nine" BTC exchange-traded funds (ETFs) in the spot market have reached a new daily record as Bitcoin rose as high as USD 54,938 on Monday."

Also mentioned by Lindrea, "Trading volumes for nine ETFs topped USD 2.4 billion, surpassing the previous record of USD 2.2 billion set on the day of their debut on Jan. 11, according to data shared by Bloomberg ETF analyst"

On the other hand, "BlackRock's IBIT attracted the largest volume on Feb. 26 with USD 1.29 billion, setting its own daily record by about 30%, while Fidelity's FBTC came in second place with USD 576 million."

It is imperative to note that, "Bloomberg ETF analyst James Seyffart noted that Feb. 26 was the second-largest trading day on record, with USD 3.2 billion, when including flows from Grayscale's bitcoin ETF"

SOURCES CONSULTED

Cointelegraph. ‘New nine’ Spot Bitcoin ETF volumes reach new daily high as BTC nears $55K Link

OBSERVATION:

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph