Bloomberg Analyst: Nine spot Bitcoin ETFs’ single-day trading volume increased by 34%

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Cointime2024/01/19 00:16

By:Cointime

ETF analyst Eric Balchunas from Bloomberg pointed out that unlike the usual trend of daily trading volume decreasing after the launch of new products, the nine newly listed spot Bitcoin ETFs achieved a 34% increase in trading volume on the 5th day after listing compared to the 4th day, which is rare in the market.

Balchunas further analyzed that this abnormal increase in trading volume was not caused by market fluctuations, as all products except GBTC experienced an increase in trading volume. In addition, he also mentioned that the discount problem currently faced by GBTC is deteriorating, and its discount rate has risen to 96 basis points, which may be caused by selling pressure, but the exact reason still needs to be observed from the flow of funds.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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