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Bitcoin spot ETF daily volume hits new high of $2 billion VanEc

Date:2024-06-03 18:56:33 Channel:Exchange Read:

In the turbulent digital currency market, the latest data shows that the daily trading volume of Bitcoin spot ETF has exceeded the feat of 2 billion US dollars, setting a new record! At the same time, the trading volume of HODL under VanEck has also shown an astonishing surge, leading investors into an unprecedented digital currency trading frenzy. Let us explore the new changes and future trends in this round of digital currency market.

With the historic breakthrough of Bitcoin spot ETF daily trading volume reaching 2 billion US dollars, the digital currency investment market has once again set off an uproar. This data not only represents the enthusiasm of investors for digital currencies such as Bitcoin, but also reflects the market's confidence and expectations for the future development of cryptocurrencies. As one of the most representative cryptocurrencies, the surge in Bitcoin's ETF trading volume has undoubtedly injected strong momentum into the entire digital currency market, bringing more trading opportunities and potential benefits to investors.

At the same time, as one of the pioneers in the field of digital asset management, VanEck's HODL trading volume has also shown an astonishing growth trend. The HODL strategy, or "holding but not selling", refers to holding digital assets for a long time rather than frequently trading and buying and selling, and obtaining longer-term investment returns through confidence and determination in future market trends. The surge in VanEck's HODL trading volume not only reflects investors' recognition of the long-term potential of digital currencies, but also reflects their favor and trust in digital asset holding strategies.

Behind the prosperity of the digital currency market, investors' behaviors and strategies are also evolving. With the increase in the daily trading volume of Bitcoin spot ETFs, more investors choose to inject funds into this field, hoping to obtain higher returns through digital currencies such as Bitcoin. At the same time, the number of investors adopting the HODL strategy has gradually increased. They are optimistic about the long-term development prospects of digital currencies, firmly hold their digital assets, and are not disturbed by market fluctuations. They believe that there will be greater gains in the future.

However, the high risk and volatility of the digital currency market also require investors to remain vigilant. Although digital currencies such as Bitcoin have huge market capitalization, their prices fluctuate greatly, and investment risks cannot be ignored. Therefore, when participating in digital currency transactions, investors need to carefully choose trading platforms and strategies, look at market fluctuations rationally, establish correct investment concepts, avoid investment risks, and ensure the safety of their own assets.

With the daily trading volume of Bitcoin spot ETF reaching a new high of US$2 billion, VanEck's HODL trading volume has soared, and the digital currency market has ushered in new development opportunities and challenges. Investors should pay close attention to market trends, seize investment opportunities, maintain a rational and stable investment mentality, and make wise investment decisions. The world of digital currency is full of infinite possibilities. Let us witness the glorious moments of the digital currency market together and open a new chapter in the investment journey!

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Coin Circle (120BTC.com) News: Bitcoin spot ETF has been hot for more than a month since it was listed on January 11. According to Bloomberg ETF analyst Eric Balchunas's article in the early morning of January 21, the trading volume of 9 ETFs (excluding GBTC) has set the largest single-day trading volume since the opening of the market, reaching about 2 billion US dollars. This huge trading volume is mainly due to the significant contributions of three ETFs: VanEck's $HODL, WisdomTree's $BTCW and Bitwise's $BITB, which have broken their respective records, reaching 399 million US dollars, 221 million US dollars and 178 million US dollars respectively. "A $2 billion volume would put them in the top 10 or so ETFs and the top 20 or so stocks, which is a pretty big number."

$HODL volume surged more than 14 times

In addition, regarding the soaring data of $HODL's trading volume exceeding $258 million (14 times its daily average), he speculated that it was not driven by a large investor, but by 32,000 individual transactions, which is 60 times its daily average.

For this sudden and explosive increase in trading, he currently has no definite explanation, but only speculates that there are two reasons:

 It may be that a Reddit or TikTok influencer recommended the product to their followers, which is very similar to the behavior of retail investors.

 Another theory is that this may be a transaction between market makers. However, he still pointed out that $IBIT and $BITO have stronger liquidity, and it is unclear why institutions do this.

Bitcoin spot ETFs have attracted more than 100,000 BTC

In terms of capital flow, Lookonchain statistics show that Ark Investment's $ARKB and Fidelity's $FBTC had the most significant capital inflows yesterday, increasing their holdings by 2,700 bitcoins (worth about $138 million) and 2,252 bitcoins (worth about $115 million) respectively. Excluding GBTC, the eight ETFs increased their holdings by a total of 5,008 bitcoins, worth about $256 million.

In addition, GBTC's latest capital outflow is $137 million. From the chart drawn by netizen @Sinz_Bitguide, it can be seen that the capital outflow wave in the early days of GBTC's listing seems to be gradually subsiding.

Since the listing of the Bitcoin spot ETF, the product has had a net inflow of 107,401 bitcoins, which is worth about $5.584 billion at the current price of about $52,000.

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