Spot Bitcoin ETFs shatter trading record with $7.69 billion
Spot Bitcoin ETFs recorded a staggering $7.69 billion in trading volumes on February 28. Top ETF volumes were with BlackRock’s IBIT, Grayscale’s GBTC and Fidelity’s FBTC. Bitcoin price also rose sharply on Monday, hitting highs of $64k before paring gains amid Coinbase network issues. Relentless demand for the recently approved spot Bitcoin ETFs has pushed the trading volumes to a new record. On Wednesday, the US spot Bitcoin ETFs saw an incredible $7.69 billion in volume. According to market data tracking the performance of these products, Wednesday’s huge trading volumes shattered the previous day’s nearly 2x. Leading the charge as has happened in recent weeks is BlackRock’s iShares Bitcoin Trust (IBIT), with over $3.3 billion to account for nearly 44% of the total volume. IBIT did more than $1.3 billion on Monday. Grayscale’s Bitcoin Trust (G BTC ) and Fidelity’s Bitcoin Fund (F BTC ) also hit past the bill...