Source: web3中文
Bitcoin (BTC) exchange-traded fund has seen its highest trading volume since its debut in the United States last month. Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, noted on X that volume was approaching $2 billion, the highest level since the first day of trading on Jan. 11.
VanEck’s HODL ETF Trading volume approached $400 million, with the WisdomTree Bitcoin Fund (BTCW) trading at $221.9 million and BitWise at $178.29 million.
Balchunas said that VanEck's HODL "has gone crazy today, with trading volume reaching $258 million, a 14x increase from the daily average."
"And this is not a large investors, but 32,000 individual transactions, which is 60 times the average,” he continued.
Some believe the price spike may be due to U.S. markets being closed on Monday for Presidents Day, with weekend trades settling on the first day of the work week.
As the U.S. trading day ends, the price of Bitcoin itself is changing hands at just over $52,200, according to CoinDesk Indicies.
“Strong Bitcoin ETF inflows from institutional investors point to risk-on sentiment. At the same time, gold ETFs saw net outflows. Gold ETF outflows may be due to rising global investor demand for U.S. stocks ," Greta Yuan, head of research at regulated Hong Kong exchange VDX, wrote in an email interview.
CoinDesk previously stated that since the launch of 10 spot Bitcoin ETFs on January 11, gold ETFs have experienced substantial capital outflows, with the two largest Bitcoin ETFs seeing an inflow of nearly US$10 billion. Although this It doesn’t necessarily mean that funds will move directly from gold to Bitcoin.
She continued: "While the U.S. stock market continues to rise, driven by artificial intelligence stocks, we may see BTC and ETH continue to rise before the Bitcoin halving."
Although US ETF products have brought an astonishing amount of capital inflows to the market, the market's spontaneous spot self-holding transactions seem to be suppressing buyer pressure, which means that the current market needs more non-arbitrage demand to further stimulate prices.
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