Connect with us

Hi, what are you looking for?


Bitcoin ETFs Triple Total Monthly Volume To $111 Billion In March

Bitcoin spot ETFs saw record monthly volume in March, tripling numbers from the previous two months with a whopping $111 billion traded.

Bitcoin ETF Smashing Success

The funds collectively traded ~$42 billion in February, and ~$25 billion in January, when they first went live. Since that time, Blackrock’s iShares Bitcoin Trust (IBIT) has overtaken the Grayscale Bitcoin Trust (GBTC) as the leading Bitcoin ETF for daily volume.

“I can’t imagine April will be bigger but who knows,” wrote Bloomberg ETF analyst Eric Balchunas to Twitter on Tuesday.

“While all of the ETFs won in terms of being profitable hits, $IBIT won the volume race and is officially the $GLD of bitcoin,” he continued. “It’s basically a wrap.”

MARCH MADNESS: Bitcoin ETFs traded $111b in March, which is just about triple what they did in Feb and Jan. I added the months where only GBTC was on market for further context. I can’t imagine April will be bigger but who knows..

— Eric Balchunas (@EricBalchunas) April 2, 2024

Gold ETFs like GLD have suffered substantial outflows versus Bitcoin ETFs over the past several months – the latter of which have already absorbed $12 billion in net inflows as of April 1. That said, GLD surpassed IBIT in volume on Monday amid a net outflow day for Bitcoin funds overall, and a recent rally to new highs above $2,250 for gold overall.

BlackRock’s Bitcoin Victory

BlackRock’s Bitcoin ETF experienced greater inflows than any other ETF in history within its first 30 days on the market. It absorbed $7.2 billion within that time, and $17.6 billion of assets today.

The ETF also ranked among some of the best-traded ETFs on certain days last month. On March 4, for instance, its volume topped $1.9 billion, ranking 6th under funds like BlackRock’s US Treasury bond ETF and the SPDR.

Its assets have now nearly caught Grayscale’s, whose assets have plummeted from 650,000 BTC to 350,000 BTC since January. Both funds have experienced perfect streaks of inflows and outflows respectively since January 11.

Last week, BlackRock CEO Larry Fink admitted that the success of his firm’s Bitcoin ETF had surpassed his expectations.

“Nothing has gained assets as fast as IBIT in the history of ETFs,” he said.

Several analysts including Bitwise CIO Matt Hougan believe Bitcoin spot ETFs could sustain their opening momentum for years to come as more investors gain access to the investment products.

“The truth is, most professional investors still cannot buy bitcoin ETFs,” Hougan wrote to Twitter last week. “That will change through a series of 100+ individual due diligence processes over the next two years.”

The post Bitcoin ETFs Triple Total Monthly Volume To $111 Billion In March appeared first on Cryptonews.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



A recent report from SoSoValue shows significant movements in the Bitcoin exchange-traded funds (ETFs) market, mainly focusing on the outflows observed in Grayscale’s Bitcoin Trust (GBTC)...


Clearstream, Deutsche Börse’s post-trade business is investing an undisclosed amount in the fintech start-up Digital Vault Services (DVS). Deutsche Börse, one of Europe’s biggest...


According to a CoinDesk report, OKX, the world’s second-largest cryptocurrency exchange by trading volume, has lost two of its top executives, Tim Byun and...


The foreign aid plan Speaker Johnson, R-La., unveiled on Monday night is already facing a growing red wave of opposition from his own colleagues...


Russian President Vladimir Putin joined international calls for cool heads in the Middle East as tensions remain high following Iran’s unprecedented attack on Israel...


A nonprofit founded and funded by liberal billionaire George Soros funneled a massive eight-figure sum into a prominent liberal super PAC that bankrolls several...

You May Also Like

Financial Advisors


Financial Advisors


Financial Advisors

The humongous outbreak of the dreaded coronavirus has brought about a groundbreaking change in what the world perceived as ‘normal’. With an estimated 280,391,189...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Respect Investment. All Rights Reserved.