Nine recently launched Bitcoin exchange-traded funds (ETFs) have experienced another day of high trading volumes, surpassing $2 billion. Bloomberg ETF analyst Eric Balchunas described it as an “intense volume day” for these ETFs, with BlackRock’s ETF setting a new record of $1.3 billion in daily volume. Balchunas questioned whether this surge in volume is a new normal or a short-term burst related to algorithms or arbitrage. The iShares Bitcoin ETF by BlackRock saw over 100,000 individual trades on February 27, compared to the average daily trades of 30,000 to 60,000. The Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF were also among the top three ETFs in terms of trade volume. This is the second consecutive day that these nine new ETFs have exceeded $2 billion in daily volume since their launch on January 11. On February 26, the trading volumes for these ETFs reached $2.4 billion, surpassing the previous record of $2.2 billion set on the first trading day. The data does not include volume from the Grayscale Bitcoin Trust, which saw outflows of $22.4 million on February 26 and $125.6 million on February 27. The preliminary flow data from Farside Investors shows a combined net inflow of $574 million for these ETFs on February 27. Grayscale’s ETF volume has been diminishing compared to the others. BlackRock’s ETF saw $520 million in net inflows, while Fidelity’s ETF had $126 million. Bitwise’s fund had $18.3 million of inflows.
Bitcoin ETFs on 'The Nine' platform maintain $2B trading volume for second consecutive day.