Summary
TLDR: BlackRock’s spot bitcoin ETF saw record daily trading volumes, signaling continued interest in such funds. The iShares Bitcoin Trust had $1.3 billion worth of shares traded, the highest daily mark since its launch. Other US spot bitcoin funds also saw record trading volumes. Despite a rare day of net outflows, overall net inflows into US spot BTC funds have reached $5.5 billion. Executives expect bitcoin ETF net inflows to increase as more wealth managers allocate client capital to such offerings.
Key Points
1. BlackRock’s spot bitcoin ETF saw record daily trading volumes on Monday, indicating ongoing interest in such funds.
2. The iShares Bitcoin Trust (IBIT) saw more than 42 million shares worth roughly $1.3 billion traded on Monday, marking the highest daily volume since its launch.
3. Despite a rare day of net outflows on Feb. 21, US spot bitcoin funds have seen overall net inflows of about $5.5 billion, with expectations of further growth in the future.