Since the launch of Bitcoin spot ETF, trading has remained extremely active. Bloomberg analysts pointed out that the daily trading volume of 9 Bitcoin spot ETFs surged to $1.2 billion yesterday, ranking among the top 1% of all ETFs.
(Bitcoin surpasses silver to become the “second largest ETF” in the United States, second only to gold)
(Bloomberg analyst: BlackRock Bitcoin spot ETF “trading volume surpasses” the total of 500 new ETFs last year)
After the launch on the 11th, the total trading volume of Bitcoin spot ETF exceeded $4.6 billion on the first day, successfully opening the door for traditional financial investment in BTC, and the trading activity has remained high.
Eric Balchunas, an ETF analyst at Bloomberg, tweeted today (20th) that the trading volume of the 9 Bitcoin spot ETFs has once again surged, rising 12% from Thursday and 53% from Wednesday. This is a rare phenomenon.
He also pointed out that Fidelity’s $FBTC, with a trading volume of $499 million, surpassed BlackRock’s $IBIT with $429 million. These two asset management giants are competing for the leading position in Bitcoin spot ETFs.
Further reading: Bitcoin surpasses silver to become the “second largest ETF” in the United States, second only to gold
Franklin Templeton CEO: Investors have a strong demand for Bitcoin
According to a report on Dynamic Zone on Friday, data shows that the total assets under management of the 11 Bitcoin spot ETFs have exceeded $27 billion, surpassing silver and becoming the second largest ETF commodity asset category in the United States, second only to gold. This shows that Bitcoin ETFs have been successfully embraced by mainstream investors.
Jenny Johnson, President and CEO of Franklin Templeton, the newly-listed Bitcoin spot ETF, stated to CNBC on Friday that she observed “strong demand” for Bitcoin from investors in the company’s spot ETF. Franklin Templeton is a multinational asset management giant in the United States with assets under management exceeding $1.4 trillion.
She believes that the reason Bitcoin ETFs will be welcomed by investors is that they allow investors to avoid dealing with the management of wallets and private keys. She stated that the management of private keys is technically complex and if not properly safeguarded, investors’ Bitcoin holdings may be lost or stolen.
She also pointed out that there are many reasons for the increased demand for Bitcoin among the public. For example, Bitcoin’s payment scenarios are gradually expanding, and many people use it to resist authoritarian governments because they are concerned that their fiat currencies may be confiscated for saying the wrong things.
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