As Bitcoin is about to hit $100,000, Bloomberg ETF analyst Eric Balchunas shared data showing that the U.S. "Bitcoin Industrial Complex", including Bitcoin spot ETFs and stocks such as MicroStrategy and Coinbase, had a single-day trading volume of $70 billion on the 21st, setting a record high.
BlackRock's Bitcoin spot ETF IBIT had a single-day trading volume of US$5 billion, the second highest in history. $MSTZ (inverse 2x leveraged MSTR product) also broke the US$1 billion mark for the first time. Eric Balchunas described this as "Bitcoin frenzy" (BITSANITY).
MicroStrategy accounted for the majority of the day's trading volume, but MicroStrategy's stock price has plummeted by more than 25% from its highest point of $536.7 to finally close at $397.28. The reason may be related to the attack by Wall Street short-selling agency Citron Research. Citron Research said last night that although it is optimistic about Bitcoin, the current MicroStrategy stock price has completely deviated from fundamentals, so it chose to short.
Bitcoin spot ETF total assets exceed $100 billion
It is worth noting that the total asset size of the US Bitcoin spot ETF has exceeded the US$100 billion mark on the 21st. Sosovalue data shows that the current total asset size has reached US$1003.37 billion. Since the Bitcoin spot ETF was approved for listing on January 11, the total net inflow has risen to US$29.7 billion. This figure also includes Grayscale GBTC's net outflow of more than US$20.2 billion.
Eric Balchunas pointed out that the size of US Bitcoin spot ETFs is close to surpassing Satoshi Nakamoto to become the largest holder of Bitcoin, and the total asset size of these ETFs is equivalent to 82% of gold ETFs, which have been traded in the US market since November 2004.
IBIT, issued by BlackRock, received the largest net inflow of $30.2 billion among all Bitcoin spot ETFs, while Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF ranked second and third, attracting net inflows of $11.2 billion and $2.7 billion, respectively.
In addition, BlackRock's IBIT option contract was launched on November 20, with trading volume on the first day reaching nearly US$2 billion. Bloomberg ETF analyst James Seyffart said that this impressive trading data may be the main driving force for the continued rise of Bitcoin.
