Volume of $2B reached for the second consecutive day by Bitcoin ETFs listed on ‘The Nine’ exchange

Nine Bitcoin exchange-traded funds (ETFs) have experienced another day of high trading volumes, surpassing $2 billion in total. Bloomberg ETF analyst Eric Balchunas described it as a significant trading day for the ETFs, especially BlackRock’s ETF, which reached a new record of $1.3 billion in daily volume. Balchunas speculated whether this surge in volume is a new normal or a short-term occurrence related to algorithms or arbitrage. BlackRock’s iShares Bitcoin ETF (IBIT) saw a significant increase in individual trades, with over 100,000 on Feb. 27 compared to the average of 30,000 to 60,000 daily trades. The Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) also had substantial daily volumes of $578 million and $204 million, respectively. This is the second consecutive day that the nine new ETFs have exceeded $2 billion in daily volume since their launch on Jan. 11. On Feb. 26, the trading volumes for these funds reached $2.4 billion, surpassing the previous record of $2.2 billion on their first trading day. The data does not include volume from the Grayscale Bitcoin Trust (GBTC), which experienced outflows of $22.4 million and $125.6 million on Feb. 26 and Feb. 27, respectively. Preliminary flow data from Farside Investors shows that the combined net inflow for the ETFs was $574 million on Feb. 27, higher than the $520 million on the previous day, despite the larger outflow from Grayscale. BlackRock’s IBIT had net inflows of $520 million, Fidelity’s FBTC had $126 million, and Bitwise’s fund had $18.3 million.