BlackRock's Bitcoin ETF Spot (IBIT) had its second biggest trading day in a row yesterday, recording daily trading volume of more than $1.3 billion as Bitcoin's price surged to $57,000.
According to Coindesk, IBIT reached 1.357 billion USD in trading volume on February 27, breaking the previous day's record of 1.3 billion USD. Nearly 42 million shares changed hands, more than double the average since trading began in January, Nasdaq data showed.
IBIT is the fifth most traded fund among all US-listed ETFs during morning hours. Besides, Fidelity's Bitcoin ETF (FBTC) also has strong trading volume.
According to data cited by Balchunas, US-listed spot Bitcoin ETFs traded a total of more than $2 billion yesterday, down slightly from record daily volume of $2.4 billion on the day February 26.
According to BitMex Research, high trading volumes do not necessarily demonstrate active interest in an investment product, but a significant increase in trading on February 26 showed net inflows into funds reached around 520 million USD, while outflows were quite small, mainly from Grayscale's GBTC fund.
Among the funds, Fidelity led with the strongest inflows, reaching about $243 million, followed by 21Shares' Ark and ARKB with $130 million, and BlackRock's IBIT ranked third with $111 million.
Notably, Bitcoin's price increase after a period of stability has contributed to the excitement of the market in recent days, with an increase of more than 10% and reaching the $57,000 mark, marking the highest price since November 2021.