$200 billion: U.S. Bitcoin spot ETF trading volume exceeds $200 billion.
The U.S. spot Bitcoin exchange-traded fund (ETF) surpassed $200 billion in cumulative trading volume just three months after its launch.
Just arrived in: 🇺🇸 United States #Bitcoin Spot ETF trading volume exceeded $200 billion in just three months.
Next is Asia 🚀 pic.twitter.com/VxQdQJEIjN
— Bitcoin Magazine (@BitcoinMagazine) April 10, 2024
The total size of SEC-approved funds surpassed $200 billion on Tuesday, according to data from The Block. This comes after spot Bitcoin ​ETFs recorded record monthly trading volume in March of $111 billion, three times that of February.
The ETF debuted on January 11, when Bitcoin was trading around $45,000. Since then, Bitcoin has risen to an all-time high above $73,000, sparking increased interest and trading activity.
BlackRock’s IBIT leads by volume, currently holding more than 265,000 bitcoins worth more than $18 billion. IBIT accounts for nearly 50% of total spot ETF trading volume. Meanwhile, Grayscale’s GBTC and Fidelity’s FBTC occupy the second and third places in market share.
The success of the US spot Bitcoin ETF has sparked adoption in other markets such as Hong Kong. Regulators are expected to approve the first spot Bitcoin ETF in Asia this month, which could potentially add more trading volume.
ETF providers cite a surge in institutional demand for regulated Bitcoin exposure. This fund provides an easy means for both retail and professional investors to gain Bitcoin price exposure.
Cumulative trading volume of $200 billion signals Bitcoin’s growing maturity following the last bull market, when ETF hopes were repeatedly dashed.
The growth of Bitcoin ETFs signals the growing adoption of traditional finance, a mainstream integration that will continue as the asset class evolves.
