🌎 Bitcoin ETF Sees Massive Inflows and Trading Volume Surge

Since its release in January 2024, the Bitcoin ETF has experienced significant inflows from institutional investors. This allows for asset diversification without the necessity of owning Bitcoin directly on the crypto market.

Massive Trading Volume for Bitcoin ETF

The Bitcoin spot exchange-traded fund (ETF) recorded a trading volume of $5 billion on November 26. This volume was driven by major industry players, including BlackRock, Fidelity, and Grayscale.

BlackRock’s Dominance

According to recent data, BlackRock’s iShares Bitcoin Trust (IBIT) recorded a trading volume of $3.46 billion in the past 24 hours. At the time of writing, IBIT leads its competitors with assets under management (AUM) of $47 billion and a market capitalization of $44 billion.

Fidelity’s Performance

Fidelity’s Wise Origin Bitcoin Fund (FBTC) reported a trading volume of $620 million and a share price of $79. The fund’s AUM reached $18 billion, with a market cap of $17 billion.

Grayscale’s Position

Grayscale Bitcoin Trust ETF (GBTC), the third largest Bitcoin ETF issuer, accounted for nearly $400 million in trading volume. As the oldest issuer, GBTC has the highest expense ratio of 1.5% per share. It also offers a lower expense ratio option with the Bitcoin Mini Trust (BTC), which traded at $70 million.

Bitcoin ETF Rise Amidst BTC Price Drop

The Bitcoin price in the cryptocurrency market has seen a decrease, falling to $91k, marking a 1.23% drop in recent trading days. Despite the decline, Bitcoin trading volume rose by approximately 12% to $91 billion. However, the coin’s market capitalization saw a slight decrease to $1.8 trillion, with a market dominance of 57%.

Market Liquidations

The crypto market faced significant liquidations amounting to $465 million, similar to the previous day. Bitcoin led the market liquidations with $112 million, followed by smaller market cap coins with $81 million.