Spot Bitcoin ETFs record $10 billion in daily volume, breaking previous record Spot Bitcoin ETFs record $10 billion in daily volume, breaking previous record
ETF performance coincides with BTC reaching a new all-time high.
2 min read
Updated: Mar. 6, 2024 at 12:50 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Spot Bitcoin ETFs have continued their record-breaking performance this week, recording over $10 billion in volume on March 5 — the highest since their launch in January.
The previous record was set on Feb. 28, when the ETFs recorded a collective trading volume of approximately $7.7 billion.
IBIT, FBTC retain the lead
Three spot Bitcoin ETFs made up most of the total volume. Trading closed with net inflows of $109.86 million across all ETFs.
BlackRock’s iShares Bitcoin Trust (IBIT) was responsible for about $4 billion in volume on March 5, while the Fidelity Wise Origin Bitcoin Trust (FBTC) made up roughly $2 billion. Grayscale’s Bitcoin Trust (GBTC) recorded $3 billion in daily volume.
Bloomberg ETF analyst Eric Balchunas wrote on X:
“These are bananas numbers for ETFs under 2 [months] old.”
Earlier in the day, Balchunas predicted that spot Bitcoin ETFs would likely surpass their previous record as the total volume reached $6 billion around 7:53 pm UTC.
Individual ETFs break records
Balchunas noted that IBIT, FBTC, BITB, and ARKB all experienced record daily volumes.
He also observed exceptional performance among several non-spot ETFs that allow for strategic investment. BetaPro Inverse Bitcoin ETF (BITI), the ProShares Bitcoin Strategy ETF (BITO), and 2x Bitcoin Strategy ETF (BITX) all saw record volumes.
Several Bitcoin ETFs were among the most active ETFs in general. Data from Barchart indicates that IBIT and the BITO topped the list, surpassing the S&P 500 ETF Trust (SPY) and the Nasdaq QQQ Invesco ETF (QQQ). GBTC and FBTC also ranked among the top ten ETFs by volume.
The Newborn Nine’s remarkable performance has been a critical driver of Bitcoin’s recent price surge as demand outpaces supply. The flagship crypto hit a new all-time high before the halving for the first time in its history.
All volumes coincide with Bitcoin (BTC) prices reaching new highs. BTC briefly touched $69,324 on March 5, surpassing its November 2021 all-time high of $69,044, before a brutal price correction.
Mentioned in this article
Bitcoin 
BlackRock 
Fidelity Investments 
Grayscale Investments iShares Bitcoin Trust 
Fidelity Wise Origin Bitcoin Trust 
Grayscale Bitcoin Trust 
Bitwise Bitcoin ETF 
ARK 21Shares Bitcoin ETF 
Eric Balchunas Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The Bitwise Bitcoin ETF (BITB) is a newly launched exchange-traded fund that provides investors with exposure to Bitcoin.
The ARK 21Shares Bitcoin ETF (ARKB) is a digital asset ETF that seeks to track the performance of bitcoin, as measured by the performance of the CME CF Bitcoin Reference Rate – New York Variant (the “Index”).
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.