Bitcoin ETF trading volume breaks record, reaches $7.7 billion after Bitcoin price remains above $60,000

US Bitcoin ETFs seem to be very popular at the moment. After the price of Bitcoin rose to its highest level this year at $64,000.

By James Seyphart, ETF Analyst from Bloomberg Intelligence It was revealed on February 29 (Thailand time) that the total trading volume (volume) of Bitcoin ETFs has now reached $7.7 billion.

Data shows that BlackRock's Bitcoin ETF (IBIT) has set a trading volume record of $3.3 billion. This has been a record high for three days in a row. While the information from Nasdaq He revealed that the number was almost three times higher than the previous record.

This increase in IBIT trading volume makes IBIT the fourth most active ETF in the US, while three other Spot Bitcoin ETFs also broke into the top 20.

This frenzy comes after Bitcoin price once again surpassed $60,000 since November 2021 and gradually rose to $64,000 before later falling. But it caused altcoin prices in most markets to rise by approximately 44% in one month.

While reporting from BitMEX Research suggests that the spot ETF market has accelerated this week. This is evidenced by the fact that all ten Bitcoin funds have seen inflows of over $6.7 billion since their launch, with BlackRock's IBIT alone seeing inflows of over $520 million in just one day.

source: CoinDesk

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