The daily trading volume for combined U.S.-based spot bitcoin exchange-traded funds has reached its highest level since mid-January.

On Tuesday, total daily trading volume across all eleven spot bitcoin ETFs reached a multi-week high of $2.58 billion, according to The Block's data. BlackRock's iShares Bitcoin ETF (IBIT) recorded the highest volume at $623.89 million, with Grayscale's converted GBTC fund in second place at $619.76 million. 

According to this week's Glassnode market report, "with the new spot bitcoin ETFs gaining momentum, a bull market in the digital asset space is arguably in play." 

ETF inflows reinvigorating the altcoin market 

Glassnode analysts said multiple indicators have emerged after the approval of several spot bitcoin ETFs that act as early …