On Tuesday, BlackRock, the world’s largest asset manager, witnessed over 100,000 individual trades for its Bitcoin ETF. The trading activity jumped 3x as the price of Bitcoin touched the $57,000 mark after 2 years.
SEC last month approved 9 spot Bitcoin ETFs and on Tuesday, the combined trading volume of the ETFs was $2 billion. This took place consecutively for the 2nd day in a row and traders have been very bullish on Bitcoin since its ETF approval.
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Blackrocks iShares Bitcoin ETF ($IBIT) hit a personal record of $1.3 billion in trading volume. It amounts to a whopping 65% of the total spot Bitcoin ETF trading volume.
$iBIT has seen its typical trading activity of 30,000 to 60,000 individual trades move up to over 100,000 individual trades in the last two days.
Greyscales spot Bitcoin ETF (GBTC) witnessed a rise in trading activity in the last couple of days.
GBTCs total outflows since its spot Bitcoin ETF approval by the SEC last month have seen its total outflow move to $7.5 billion.
Earlier last week, Coinbase proposed in a 27-page letter to the SEC the approval of spot Ethereum ETF.