After $673M Net Inflow, Bitcoin ETF Trading Frenzy Continues as BTC Price Nears Record

Among the top ten most traded exchange-traded funds (ETFs) on a daily basis, according to Barchart, is BlackRock's bitcoin ETF. Data from BitMEX Research shows that demand for spot bitcoin ETFs has been on the rise recently, with a record net inflow of $673 million recorded on Wednesday.

Following Wednesday's hectic session, the trading craze among spot bitcoin {{BTC}} exchange-traded funds listed in the United States carried over into Thursday.

According to Barchart statistics, BlackRock's IBIT ETF—the second-largest bitcoin ETF by asset total—reached over $1 billion in trading volume for the fourth day in a row, placing it among the top ten most-traded ETFs in the US around lunchtime on Thursday.

According to Barchart, about 36 million IBIT shares, valued at more than $1.2 billion, changed hands with two hours remaining in the trading session as of 1:30 p.m. Eastern time (18:30 UTC). So far today, GBTC (Greyscale) and FBTC (Fidelity) have also had excellent days, trading over $880 million and $660 million, respectively.

The ten spot bitcoin ETFs traded a total of $7.7 billion on Wednesday, with BlackRock's IBIT reaching $3.3 billion in volume; these impressive numbers follow on Wednesday's record-breaking performance.

The greatest single-day allocation since spot bitcoin ETFs debuted in early January was $673 million, according to data from BitMEX Research. A record-breaking $612 million was poured into BlackRock's IBIT alone.

"Right now, only one or two other ETFs on the planet are taking in cash as fast as IBIT," stated Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, in an X post.

Thursday is shaping up to be a relatively calm afternoon for Bitcoin, with the CoinDesk Bitcoin Index (XBX) trading at over $61,000, reflecting a 0.3% decline over the previous 24 hours. The market-wide CoinDesk 20 Index (CD20) has increased by more than 3%, while it is falling behind.

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