BTC’s price has considerably struggled since the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs (exchange-traded funds).

Still, the ETFs have attracted many investors, resulting in a record trading volume within the first two days of trading.

Bitcoin ETFs See Record Trading Volume

Available data shows that spot Bitcoin ETFs collectively achieved a substantial trading volume of approximately $8 billion. The volume peaked at approximately $4.6 billion on the inaugural day, followed by a volume exceeding $3 billion on the second trading day.

Grayscale’s GBTC ETF emerged as the most actively traded spot Bitcoin ETF during this period. Impressively, it recorded a total trading volume surpassing $4 billion, solidifying its position at the forefront of the market.

New issuers like BlackRock, Fidelity, Bitwise, and others also saw considerable trading activities during the days. Notably, BlackRock CEO Larry Fink praised the early success, adding that he saw the top cryptocurrency as an asset class rather than a currency.

However, some analysts argued that this early trading activity was a flop because most c

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Author: Oluwapelumi Adejumo

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