Bitcoin spot ETF daily trading volume hits record high of US$2 billion! VanEck's HODL deal skyrockets

Since its listing on January 11, Bitcoin spot ETF trading activities have continued to be booming. According to Bloomberg ETF analyst Eric Balchunas early this morning, the trading volume of nine ETFs (excluding GBTC) hit the highest single-day record since its listing, reaching approximately US$2 billion.

This huge trading volume is mainly attributed to three ETFs: VanEck’s $HODL, WisdomTree’s $BTCW and Bitwise’s $BITB, which achieved $399 million, $221 million and $178 million respectively. Record. The remarkable performance of these three ETFs has injected huge capital flows into the entire market, showing investors' strong interest in cryptocurrencies.

"$2 billion in trading volume would put them in the top 10 or so among ETFs and the top 20 or so among stocks, which is a pretty big number."

$HODL Trading The volume surged more than 14 times

Regarding the data that HODL’s daily trading volume exceeded 258 million US dollars and surged 14 times, analysts pointed out that this may not be the work of a single large investor, but about 32,000 transactions Composed of individual transactions, this is equivalent to 60 times its average daily transactions.

He has no definite explanation for this sudden and explosive increase in transactions. He only speculates that there are two reasons:

• It may be a Reddit or TikTok influencers recommended the product to their followers, much like a group of retail investors.

• Another view is that this could be caused by transactions between market makers. However, he noted that $IBIT and $BITO are more liquid and the motivations for institutions to do so are unclear.

Bitcoin spot ETFs have attracted more than 100,000 BTC

In terms of fund flow, Lookonchain statistics pointed out that Ark Investment’s $ARKB and Fidelity’s $FBTC The most significant capital inflow was yesterday, with 2,700 Bitcoins (valued at approximately US$138 million) and 2,252 Bitcoins (valued at approximately US$115 million) respectively. Excluding GBTC, 8 ETFs accumulated a total of 5,008 Bitcoins. , worth approximately US$256 million.

In addition, GBTC’s latest capital outflow was US$137 million. From the graph drawn by netizen @Sinz_Bitguide, we can see that the outflow of capital in the early days of GBTC’s listing seems to be gradually fading.

Since the Bitcoin Spot ETF was launched, the product has had a net inflow of 107,401 Bitcoins, which is worth approximately US$5.584 billion based on the current price of approximately US$52,000.

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