Trading volumes on Bitcoin’s spot ETFs hit $111 billion in March.
Spot Bitcoin exchange-traded funds witnessed a spike in trading volume in March, reaching $111 billion. This was nearly three times the trading volume recorded in February, as Grayscale and BlackRock ETFs dominated the market.BlackRock’s IBIT continues to dominate the ETF market share
BlackRock’s Bitcoin ETF, IBIT, continues to dominate the trading volume, followed by Grayscale’s GBTC and Fidelity’s FBTC.“While all of the ETFs won in terms of being profitable hits, $IBIT won the volume race and is officially the $GLD of Bitcoin.”On April 1, the cumulative spot Bitcoin ETFs recorded net outflows totaling $86 million, according to data from Farside Investors. BlackRock’s dominant IBIT ETF inflows of $165.9 million were overshadowed by Grayscale’s $302.6 million in outflows.
BlackRock and Fidelity’s spot Bitcoin ETFs reached about $18 billion and $10 billion, respectively, in assets under management last month and have been the most successful in terms of inflows. On the other hand, Grayscale’s GBTC has surpassed $15 billion in total outflows after the over $300 million outflows recorded on April 1. GBTC’s assets under management have now dropped by 46% to $22 million, according to data from Coinglass.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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