Bitcoin futures ETFs, including ProShares Bitcoin Strategy ETF (BITO), VanEck Bitcoin Strategy ETF (XBTF), and Valkyrie Bitcoin Strategy ETF (BTF), reached an all-time high daily trading volume of $2 billion. This milestone was achieved just one day after surpassing the previous record of $1.4 billion. ProShares Bitcoin Strategy ETF, the first Bitcoin ETF product in the US, dominated the daily trading volume of Bitcoin futures ETFs, accounting for $1.97 billion or 97% of the record-breaking volume on that day.
Bloomberg ETF analyst Eric Balchunas highlighted that BITO broke the all-time volume record with $2 billion in trades on this historic day. Additionally, he noted that ProShares Bitcoin futures ETF’s assets surpassed $2 billion, reaching a new all-time high. BITO’s assets grew 10% from $1.8 billion on January 2nd and 18% from $1.7 billion on December 9th, 2023.
Balchunas also mentioned that BlackRock leads among the newly approved spot Bitcoin ETFs, which started trading with over 700,000 transactions and a total trading volume exceeding $4.5 billion according to the data obtained.
BlackRock’s spot Bitcoin ETF (IBIT) exceeded BITO’s initial $1 billion trading volume, reaching $1.05 billion and surpassing the futures Bitcoin ETF volume. Fidelity’s FBTC ETF reached approximately $685 million, while Grayscale’s converted spot Bitcoin ETF product (GBTC) generated a trading volume of about $2.3 billion, more than the combined total of the former two.
Considering that both BlackRock and Fidelity’s ETFs are new, the majority of their trading volume is likely from capital inflows. ARK 21Shares Bitcoin ETF and Bitwise (BITB) achieved trading volumes of $278 million and $122 million, respectively, on their first day, while other ETFs like Franklin Templeton (EZBC), Invesco Galaxy (BTCO), and VanEck (HODL) recorded trading volumes below $100 million.