BlackRock's ETF also notched a new record $1.3 billion in daily volume in what an analyst described as “another intense volume day” for the funds.
Nine of the recently launched spot Bitcoin exchange-traded funds (ETFs) have recorded a second straight trading day of combined volumes of over $2 billion as demand and interest remain heated.
In a Feb. 27 X post, Bloomberg ETF analyst Eric Balchunas described it as “another intense volume day for the Nine” — the ETFs bar Grayscales converted Bitcoin trust. He noted BlackRock’s ETF notched a new record $1.3 billion in daily volume, more than most large-cap United States stocks.
“I don’t know if this is a new normal or some kind of short-term [algorithm or arbitrage]-related burst,” he wrote.
