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The nine new spot bitcoin ETFs set a daily volume record on Monday by registering a combined $2.4 billion in buying and selling, according to Bloomberg.The $2.4 billion in trading, led by BlackRock’s ETF, was enough to snap the previous daily record set on the first day the instruments traded on Jan. 11.
Bitcoin approached $55,000, marking its highest value in 15 months.Asset managers’ open interest in bitcoin futures on the CME has reached all-time highs.Some analysts warn of a potential decrease in Bitcoin’s price to $48,000.
Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space
Quick Take: Frax Finance mulls over reversing the 2022 decision to turn off revenue sharing rewards for veFXS stakers. The move, which would go live within 10 days, is inspired by Uniswap’s proposal to reward UNI stakers.
CoinShares said that the massive spike in daily trading volume for VanEck’s spot bitcoin ETF could have been a result of high-frequency trading.In total, since they began trading last month, spot bitcoin ETFs have reported nearly $52 billion in cumulative trading volume while registering net inflows of $5.8 billion.