- The recent bitcoin rally led to a surge in trading volume for the new bitcoin exchange-traded funds (ETFs) that launched last month. Trading volume records have been shattered multiple times this week for major bitcoin ETFs.
- The heavy trading volume comes as bitcoin crossed $60,000 on Wednesday for the first time since November 2021. Bitcoin is up around 30% since the ETFs launched, also pushing ETF prices significantly higher.
- The high trading volume indicates significant interest from retail investors who are likely using the ETFs as an easy way to gain exposure to bitcoin’s gains. The ETFs offer an accessible way to invest in cryptocurrency.
The recent bitcoin rally has led to a surge in trading volume for the new bitcoin exchange-traded funds (ETFs) that launched last month. Retail investors appear to be using the ETFs as a way to participate in the crypto market’s gains.
Trading Volume Hits New Highs
The bitcoin ETFs have seen trading volume records shattered multiple times this week. For example, the iShares Bitcoin Trust (IBIT) saw over 61 million shares change hands on Wednesday, well above its previous one-day record of 43 million on Tuesday.
Other major bitcoin ETFs like the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) have also seen massive trading volume, already surpassing records set on their very first day of trading back in January.
Bitcoin’s Price Surge Drives Interest
The heavy trading volume comes as bitcoin crossed $60,000 on Wednesday for the first time since November 2021. Bitcoin is up around 30% since the ETFs launched, which has also pushed the prices of the ETFs significantly higher over the past six weeks.
Retail Traders Jump In
The high trading volume points to significant interest from retail investors who are likely using the ETFs as an easy way to gain exposure to bitcoin’s gains. While the ETFs appeal to all types of investors, the heavy intraday trading is a hallmark of individual traders and investors.
Conclusion
The bitcoin ETFs have seen their trading volume surge to record highs this week as retail investors pile into the market to take advantage of bitcoin’s huge rally. The ETFs offer an accessible way for individuals to invest in the cryptocurrency. If bitcoin continues its climb, trading activity in these new funds is likely to remain very active.
