Trading volumes for the “new nine” Bitcoin (BTC) exchange-traded funds (ETFs) have reached a new daily record as BTC surged to $54,938 on Monday. On February 26, the trading volumes for these nine ETFs exceeded $2.4 billion, surpassing the previous record of $2.2 billion set on January 11, according to data from Bloomberg ETF analyst Eric Balchunas. However, these figures do not include the volume from Grayscale’s Bitcoin ETF product, the Grayscale Bitcoin Trust (GBTC).
Among the “new nine” ETFs, BlackRock’s IBIT recorded the highest volume on February 26, with $1.29 billion, setting its own daily record with an increase of about 30%. Fidelity’s FBTC came in second with $576 million. The ARK 21Shares (ARKB) and Bitwise (BITB) ETFs saw flows of $276 million and $81 million, respectively.
Balchunas mentioned that he is uncertain about the source of the new interest but pointed out that trading volumes tend to be higher on the first day of the trading week. Another Bloomberg ETF analyst, James Seyffart, noted that February 26 was the second-largest trading day, reaching $3.2 billion when including flows from Grayscale’s Bitcoin ETF.
Earlier in the day, when IBIT surpassed $1 billion in volume, Balchunas highlighted that it ranked 11th in terms of volume among all ETFs. Meanwhile, Bitcoin’s price reached a two-year high of $54,938 on February 26, although it is still below its all-time high of $69,044 on November 10, 2021, according to data from CoinGecko.
In terms of flow data, there is no information available for February 26. However, according to BitMEX Research, over $583 million flowed into spot Bitcoin ETFs during the four-day trading week last week. On February 21, a net outflow of $35.7 million was recorded, marking the first day without inflows since January 25. Year-to-date inflows have now surpassed $5.5 billion.
Among the “new nine” ETFs, IBIT, FBTC, ARKB, and BITB have seen the largest inflows, with $5.9 billion, $4 billion, $1.4 billion, and $1 billion, respectively. On the other hand, GBTC has experienced outflows of $7.4 billion.
In related news, the magazine “Wolf Of All Streets” expressed concerns about a world where Bitcoin reaches $1 million, highlighting the potential consequences of such a scenario.