Since the day of its release, January 2024, Bitcoin ETF has seen a massive inflow from institutional investors, allowing it to diversify assets without owning Bitcoin on the crypto market.
Bitcoin spot exchange-traded fund (ETF) recorded volume trading of $5 billion on Nov. 26; the volume was led by dominant key players in the industry, including BlackRock, Fidelity and Grayscale.
According to Coinglass data, BlackRock’s iShares Bitcoin Trust (IBIT) record $3.46 billion volume trading in the past 24 hours. At the time of writing, IBIT is the highest among its competitors, with asset under management (AUM) and market capitalizations of $47 billion and $44 billion, respectively.
Fidelity Wise Origin Bitcoin Fund (FBTC), following the success of trading volume in the past day of $620 million and $79 per share. Fidelity’s AUM reached $18 billion and market cap $17 billion.
The third largest Bitcoin ETF issuer, Grayscale Bitcoin Trust ETF (GBTC), accounts for almost $400 million of trading volume. As the oldest issuer, GBTC has the highest expense ratio of 1.5% per share and accommodates the needs of investors with a lower ratio in Bitcoin Mini Trust (BTC), trading at $70 million.
Read more: Bitcoin ETFs Record $438m in Outflows as BTC Dips Below $93k
Bitcoin ETF rise, BTC price dropped
Bitcoin’s (BTC) price in the cryptocurrency market has seen a different faith, drowning to $91k or a decrease of 1.23% in the past days of trading. Although Bitcoin volume trading also rose about 12% to $91 billion, the coin’s market capitalization saw a slight decrease to $1.8 trillion, marking the dominance to 57%.
The crypto market also faces the same amount of liquidations as the previous day, which reached $465 million. Bitcoin and small market cap coins lead the market liquidations with $112 million and $81 million.
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