Spot bitcoin ETF cumulative trading volume crosses $100 billion

Markets • March 8, 2024, 10:40AM EST

Published 1 minute earlier on

Quick Take

Cumulative trading volume for spot Bitcoin ETFs surpassed $100 billion after launching less than two months ago.
Volumes have surged in the last two week’s including this Monday when the combined buying and selling activity for spot bitcoin ETFs nearly hit $10 billion.

Passing the $100-billion mark comes after Monday's nearly $10 billion in cumulative trading volume and last week's record-breaking result. Cumulative trading volumes for the spot bitcoin ETFs totaled a record $22.3 billion last week, according to The Block’s data dashboard.

RELATED INDICES

Overall the three most popular products, in terms of volume, have been those offered by BlackRock, Fidelity and Grayscale. On Tuesday of this week, BlackRock’s fund hit new record for daily inflows of $788.3 million as bitcoin reached a new all-time high above $69,000 for the first time since November 2021.

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About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.