US Bitcoin ETFs broke their previous trading volume record on February 28, reaching a stunning $7.69 billion. This increase more than doubles the previous high of $4.66 billion, recorded on launch day, January 11. BlackRock's iShares Bitcoin ETF, IBIT, dominated the day's trading volume with $3.35 billion, double its previous daily record.
Following closely, the Grayscale Bitcoin Trust (GBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC) set similar marks. They recorded deals at $1.86 billion and $1.44 billion, respectively, which were twice their prior bests.
Together, these spikes indicate a huge increase in investor participation. According to market insiders, genuine curiosity, rather than automated trading, is driving this rise. This volume surge coincides with Bitcoin's 10% gain to a two-year high of $64,000.
GBTC's largest outflow in February occurred on the same day, with $216.4M leaving the fund, showing a shifting investment landscape in the Bitcoin ETF industry. This presents a vivid picture of a dynamic market that, despite swings, continues to attract a large number of investments.
