Bitcoin
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$66,739.00 4.23964
Bitcoin price
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$3,505.80 2.06217
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BNB
BNB (BNB)
$593.70 3.67628
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$169.27 6.18016
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$0.5715330 0.20804
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$0.0000179 2.39737
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$0.0000127 8.46582
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Bonk
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$0.0000316 16.69351
Bonk price
Bitcoin
Bitcoin (BTC)
$66,739.00 4.23964
Bitcoin price
Ethereum
Ethereum (ETH)
$3,505.80 2.06217
Ethereum price
BNB
BNB (BNB)
$593.70 3.67628
BNB price
Solana
Solana (SOL)
$169.27 6.18016
Solana price
XRP
XRP (XRP)
$0.5715330 0.20804
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000179 2.39737
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000127 8.46582
Pepe price
Bonk
Bonk (BONK)
$0.0000316 16.69351
Bonk price
Bitcoin
Bitcoin (BTC)
$66,739.00 4.23964
Bitcoin price
Ethereum
Ethereum (ETH)
$3,505.80 2.06217
Ethereum price
BNB
BNB (BNB)
$593.70 3.67628
BNB price
Solana
Solana (SOL)
$169.27 6.18016
Solana price
XRP
XRP (XRP)
$0.5715330 0.20804
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000179 2.39737
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000127 8.46582
Pepe price
Bonk
Bonk (BONK)
$0.0000316 16.69351
Bonk price
Bitcoin
Bitcoin (BTC)
$66,739.00 4.23964
Bitcoin price
Ethereum
Ethereum (ETH)
$3,505.80 2.06217
Ethereum price
BNB
BNB (BNB)
$593.70 3.67628
BNB price
Solana
Solana (SOL)
$169.27 6.18016
Solana price
XRP
XRP (XRP)
$0.5715330 0.20804
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000179 2.39737
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000127 8.46582
Pepe price
Bonk
Bonk (BONK)
$0.0000316 16.69351
Bonk price

Spot Bitcoin ETF trading volume approaches $6b

spot-bitcoin-etf-trading-volume-approaches-6b
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Spot Bitcoin ETF trading volume approaches $6b

On Feb. 28, 2024, trading volume for nine spot Bitcoin (BTC) ETFs approached $6 billion.

The figure is more than double the previous high set on Feb. 26, when the trading volume was $2.4 billion, Bloomberg Intelligence analyst Eric Balchunas said.

The iShares Bitcoin Trust (IBIT) fund from BlackRock remains the leader among spot Bitcoin ETFs. The trading volume for this position was $3.3 billion. In second place is Fidelity Wise Origin Bitcoin Fund (FBTC) from Fidelity Investments at $1.4 billion. Balchunas notes that both funds have doubled their previous records. The total number of transactions also reached an impressive volume of 500,000.

However, Balchunas notes that many market makers do not have access to spot Bitcoin ETF market.

“I asked around to some mkt makers and most said this volume is largely a function of natural demand vs algo/arb type volume. Word is wirehouse platforms are seriously looking at adding them soon. I’m sure pressure is mounting for them. They like to see track record and get paid off, but w grassroots demand like this they gonna have to expedite.”

Eric Balchunas, Bloomberg Intelligence analyst

Against the backdrop of consistently high activity in the spot Bitcoin ETF sector, the BTC rate has increased significantly. Thus, on Feb. 28, the Bitcoin rate reached its highest since November 2021, touching $64,000, according to CoinMarketCap data.

Amid the rally, Glassnode analysts said that trends in capital flows, exchange activity, leverage in crypto derivatives, and institutional demand signal increased risk appetite among Bitcoin investors.