Spot Bitcoin ​​ETF surpasses $100 billion in cumulative trading volume

• Bitcoin is being eaten by spot Bitcoin ETFs at a rate that exceeds mining capacity.
• Last week saw total spot Bitcoin ETF trading volume reach a record $22.3 billion.

The newly minted U.S. spot Bitcoin ETF is off to a good start since its debut in January. According to statistics, cryptocurrency-based financial products achieved a new important milestone on Friday, with total trading volume exceeding $100 billion.

Although it has been a month since the total transaction volume of new products exceeded $50 billion, the increase in activity succeeded in achieving the second half goal in just two weeks.

investor optimism

As more people wanted to buy and trade Bitcoin, its price soared. Bitcoin is being eaten by spot Bitcoin ETFs at a rate that exceeds mining capacity. Due to surging demand, the price of Bitcoin recently surpassed its previous high (ATH) of $69,000. Moreover, with the halving imminent, prices are expected to rise further. With continued bullish momentum, altcoins have also seen a similar trend and are trading in the green.

Daily trading volume for spot Bitcoin ETFs topped nearly $10 billion on Monday, and is now well over $100 billion. Last week also saw total spot Bitcoin ETF trading volume hit a record $22.3 billion.

Looking at overall trading volume, BlackRock, Fidelity, and Grayscale round out the top three. Inflows of $788.3 million into BlackRock’s funds on Tuesday set a new daily record. Nate Geraci, president of The ETF Store, attempted to put current events into context earlier this week.

Nine new physical Bitcoin ETFs have raised more capital in the past two months than all physical gold ETFs raised over the past five years combined.

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