Spot bitcoin ETFs triple to $111B in March ahead of halving

  • Spot bitcoin exchange-traded funds (ETFs) witnessed a remarkable surge in March, reaching a trading volume of $111 billion, over three times the activity seen in February, which was dominated by BlackRock and Grayscale ETFs.
  • The data from Bloomberg ETF analyst Eric Balchunas highlights the substantial increase in spot bitcoin ETF trading volume from $42.2 billion in February to $111 billion in March, reflecting the growing demand for these ETFs.

Spot bitcoin exchange-traded funds (ETFs) saw a substantial surge in March, hitting $111 billion in trading volume, more than triple the activity in February dominated by BlackRock and Grayscale ETFs.

Bloomberg analyst reports

Data from Bloomberg ETF analyst Eric Balchunas shows that spot bitcoin ETF trading volume increased to $111 billion in March from $42.2 billion in February.

A spot bitcoin ETF is an exchange-traded fund that directly holds bitcoin assets, mirroring the value of the cryptocurrency in real-time according to current market prices. This type of ETF allows investors to gain exposure to bitcoin without owning the actual cryptocurrency itself.

Following the introduction of bitcoin investment products on January 11, February marked the inaugural full month of trading. The strong performance observed in March underscores the growing demand for spot bitcoin ETFs.

Also read: BlackRock’s ETF surges over $17B surprising its CEO

Also read: Hong Kong prepares to launch ethereum ETFs ahead of US

Blackrock leads in bitcoin ETF trading

BlackRock’s IBIT remains the most actively traded bitcoin ETF, followed by Grayscale’s GBTC and Fidelity’s FBTC.

On April 1, cumulative spot bitcoin ETFs experienced net outflows totaling $86 million. Grayscale led the outflows with withdrawals amounting to $302.6 million, surpassing BlackRock’s IBIT ETF inflows of $165.9 million.

With the upcoming bitcoin halving event less than 20 days away, the convergence of ETF success with this event sets the stage for potential transformation in cryptocurrency investment.

Sylvia-Shen

Sylvia Shen

Sylvia Shen, an intern reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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