BlackRock’s spot Bitcoin ETF trading volume surpasses GBTC today, signaling a market shift.

BlackRock’s Spot Bitcoin ETF has surpassed Grayscale Bitcoin Trust (GBTC) in terms of year-to-date trading volume for the first time since launch, according to Bloomberg ETF analyst James Seyffart.

BlackRock’s spot Bitcoin ETF trading volume surpasses GBTC for the first time, suggesting the pace of outflows is slowing for the Grayscale ETF, which has seen over $5 billion in outflows since launch. As highlighted below, other spot Bitcoin ETFs saw total inflows totaling over $5.8 billion.

This trend could signal a significant change, suggesting that the selling in GBTC is weakening, suggesting that the current massive Bitcoin selling pressure is easing. Other spot Bitcoin ETFs, such as BlackRock and Fidelity, experienced large inflows with a total of 98,264 BTC worth over $4.1 billion into the ETF.

As GBTC outflows decrease and other spot Bitcoin ETF inflows increase, BTC will continue to disappear from the market at a record pace. To put all of this into context, BlackRock has amassed over 52,026 BTC since launching earlier this month. MicroStrategy, known for its aggressive Bitcoin accumulation strategy, has amassed 189,150 BTC over the past four years.

Bitcoin pumps above $43,000 as market participants eagerly await final numbers at the end of the day to see if inflows to BlackRock’s spot Bitcoin ETF continue to outpace outflows to GBTC.