The U.S.-based Etf for bitcoin and ether recorded nearly 6.5 trading volume in the midst of market turmoil.
The U. S. -based #Etf for #bitcoin and ether recorded nearly 6.5 trading volume in the midst of market turmoil.
According to CoinGlass, the total trading volume of the Etf Spot Bitcoin Fund (BTC) in 524,000 days totaled 11 million, more than half of which comes from BlackRock's iShares Bitcoin Trust (IBIT).
The trading volume of ETFs on the Spot Ether (ETH) platform reached 7,715.3 million, mainly driven by Grayscale's #BTC Trust (ETHE) and BlackRock's iShares Ethereum Trust (ETHA).
The total trading volume between the two spot cryptocurrency Etf categories reached £596,000.
In a post on Site X at the start of the trading day, Bloomberg ETF analysts warned that "crazy amounts of money" during market procedures are usually "pretty reliable indicators of fear.
On the other hand, high liquidity on a busy day is part of what traders and institutions love about ETFs, so we want to see good volumes over the long term, he explained. The cryptocurrency market began entering the red zone on Sept. 4, when news broke that spike trading had dumped hundreds of millions of ethers onto the exchange. Yesterday, the price decline accelerated sharply following a significant drop in the Nikkei index and the rollout of Japanese yen translation trades. 8/5 Bitcoin temporarily dipped below 50,000 at the start of U. S. trading.
Since then, bitcoin has recovered slightly and is currently trading at $54,288, according to CoinMarketCap.
Preliminary daily earnings data from CoinGlass before the final tally shows mixed results from bitcoin and ether ETFs.
The Grayscale Bitcoin Trust and ARK21Shares Bitcoin ETF (ARKB) recorded outflows of $11 million per day, while the Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Mini Trust (BTC) recorded inflows of ¥290 million and ¥2,180 million, respectively.
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