The total spot Bitcoin ETF trading volume for all ten issuers as of February 22 is very close to crossing the $50 billion mark.<\/span><\/p>\n In a Bloomberg Intelligence data chart shared by James Seyffart, one of its Senior ETF Analysts, it was showcased that the total trading volume from Grayscale\u2019s GBTC, BlackRock\u2019s IBIT, Fidelity\u2019s FBTC, and the others is currently pegged at $49.7 billion.\u00a0<\/span><\/p>\n <\/p>\n This figure is quite close to the $50 billion mark and is likely to reach it before the close of the day if the trading volume gains additional steam.<\/span><\/p>\n Grayscale registered up to $20 billion in trading volume although its total flows show that it is still experiencing significant outflows. All the spot Bitcoin ETFs <\/span>witnessed a substantial outflow<\/span><\/a> of $88 million as of the time the data was published. IBIT has recorded about $13.15 billion with $5.6 billion in total flows. Fidelity\u2019s FBTC has recorded $9.1 billion in trading volume and $4 billion in total flows.\u00a0<\/span><\/p>\n Been a while but here’s how things look in the Cointucky Derby for #Bitcoin<\/a> ETFs since their launch. pic.twitter.com\/g5x3Kj813D<\/a><\/p>\n <\/p>\n \u2014 James Seyffart (@JSeyff) February 22, 2024<\/a><\/p>\n<\/blockquote>\n <\/p>\n Compared to the first week when it <\/span>recorded<\/span><\/a> an impressive surge of over 12% in the pre-market trading session, Valkyrie is not seeing as much trading volume as any of the other spot Bitcoin ETF issuers per current data. In order to boost its outlook, Valkyrie recently extended its BTC custodian list to <\/span>include BitGo<\/span><\/a><\/p>\n Markedly, Valkyrie has only $79 million in trading volume even though its total flows ($135 million) supersedes that of VanEck ($95 million), Franklin Templeton\u2019s EZBC ($87.5 million), and WisdomTree\u2019s BTC, the product with the lowest volume at $25.5 million).<\/span><\/p>\n The growth in trading volume for these spot Bitcoin ETFs may be attributed to the recent rise in the price of Bitcoin. <\/span>Bitcoin price crossed the $52,000<\/span><\/a> level a few days ago and is now sitting at $51,440.50 with a 0.23% increase in its price within the last 24 hours.\u00a0\u00a0<\/span><\/p>\n <\/p>\n Many analysts are still optimistic that BTC will experience more growth in the coming weeks. Renowned crypto market analyst, Ali Martinez, <\/span>projects Bitcoin\u2019s price<\/span><\/a> to rally to $57,000, especially with the growing immense curiosity among traders and investors within the global crypto realm.\u00a0<\/span><\/p>\n Also, Max Keiser is optimistic that the price of Bitcoin could <\/span>increase tenfold<\/span><\/a> from its current level, however, his prediction is linked to a major correction in the United States stock market coming ahead. Signs of an uptick in Bitcoin\u2019s price is a positive catalyst that might further drive a FOMO into the spot Bitcoin ETF market in the near term.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n <\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\nSpot Bitcoin ETF Sets Sail for $50B Benchmark<\/strong><\/h2>\n
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Spot ETF and Bitcoin Price Correlation<\/strong><\/h2>\n
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