Unlocking the Success: US Spot Bitcoin ETFs Reach Over $50 Billion in Cumulative Trading Volume

    Spot Bitcoin exchange-traded funds (ETFs) have made a significant impact by surpassing an impressive $50 billion‌ in total trading volume⁣ since their introduction to the United States market on January 11. This achievement, reached on⁢ Thursday,⁣ February 22, demonstrates a remarkable 76.68% increase from ⁢the initial cumulative volume‌ of 28.3 billion noted earlier in the month, as per data shared by BitMEX Research.

    Milestone Achievement of $50 Billion ⁣Cumulative Trading Volume

    On ⁤a specific Thursday, spot Bitcoin ETFs collectively generated a trading volume totaling ‍$1.2 billion. Leading⁢ the pack⁣ is BlackRock’s iShares Bitcoin Trust (IBIT) with $457.2 ​million, followed closely by Grayscale’s Bitcoin Trust (GBTC) at ⁣$348.8 million, ⁤and Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $255.7 million. Noteworthy is the ‌noteworthy ‍boost to the⁣ $50 billion cumulative volume, largely driven by a multi-week record high‌ trading volume that exceeded $2.5 billion on a recent Tuesday.

    This remarkable surge in trading volume not only reflects the ⁣growing trust of investors ⁣in spot Bitcoin ETFs but also signifies the‌ increasing acceptance and⁢ acknowledgment of Bitcoin as a legitimate asset⁣ class in ‍the mainstream ⁤financial arena.

    Resurgence in Inflows

    Interestingly, this accomplishment coincides with a return to net inflows for ⁣these financial products after experiencing net outflows⁢ amounting to $35.7 million on the previous day. Among ⁢the inflows, FBTC ⁢leads with $158 million, closely followed by IBIT at $125 million. Cumulatively, FBTC and IBIT have now witnessed historical net inflows of $4.05 billion and $5.74 billion, respectively.

    Furthermore, various other ‌ETFs witnessed inflows,‍ including Bitwise Bitcoin ETF (BITB) with $7.90 million, ARK 21Shares Bitcoin ETF (ARKB) with $6.7 million, WisdomTree Bitcoin⁣ Fund (BTCW)⁤ with $4.40 million, VanEck Bitcoin Trust (HODL) with $2.93 million, and Valkyrie Bitcoin Fund (BRRR) with $1.17 million. In contrast, GBTC experienced net outflows of⁤ $55.67 million, primarily attributed to its relatively higher management fees of 1.5% compared to competitors charging⁣ fees ⁢ranging from 0.2% to 0.9%.

    This latest development showcases the ever-evolving landscape of spot Bitcoin ETFs, highlighting a trend towards increased⁤ investment and confidence in this emerging digital asset class.

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