Bitcoin ETF trading volume surges as BTC price remains strong.

• The Form 13F filing also showed that 937 U.S. companies had exposure to the BTC ETF in the first quarter.
• On May 16, daily spot Bitcoin trading volume exceeded $5 billion.

Nearly 1,000 U.S. companies have purchased Bitcoin exchange-traded funds (ETFs), contributing to a surge in trading volume for Bitcoin among new institutional investment products.

Daily spot Bitcoin trading volume has surpassed $5 billion, according to data published on May 16 by research firm Santiment. The performance of Bitcoin ETFs has been non-existent since Bitcoin reached an all-time high of $73,800.

actual return

The seven largest U.S. cash ETFs handled $5.65 billion in trading volume this week, the most volume since March 24, according to Santiment. As May progresses, spot ETFs are performing well and, as of May 17, positive inflows have been recorded each day this week. .

Grayscale Bitcoin Trust (GBTC), despite its reputation for large outflows, attracted modest inflows of $27 million on May 16 and $4.6 million on May 17, according to data from Farside. Form 13F filings show that 937 U.S. companies had exposure to Bitcoin ETFs in the first quarter. In comparison, only 95 companies showed interest in the first quarter after the introduction of the gold ETF.

When looking at the future of Bitcoin price, trading firm QCP Capital sees several things coming together to create a positive continuation. Several institutions, including Millennium Management LLC and other asset managers, purchased shares of a newly established U.S. ETF linked to the price of Bitcoin during the first quarter, according to recent regulatory filings. As of March 31, New York-based Millennium said it had invested $2 billion in a number of new exchange-traded funds.

Today’s top cryptocurrency news:

Hong Kong announces launch of e-CNY wallet for local users