Accéder au contenu principal

New Bitcoin ETFs Hit $10B in Record Trading Volume Day


March 5 was not just the day that Bitcoin made an all-time high in USD; it was also the day that the new spot ETFs hit record trading volumes.

The new ten Bitcoin ETFs did $10 billion in trading volume on Tuesday, smashing the previous record set on Feb. 28, reported Bloomberg ETF analyst Eric Balchunas.

Volatility and volume go hand in hand with ETFs, so “not totally surprised,” he said before adding that “these are bananas numbers” for the funds under two months old.

Record Volumes for ETFs

BlackRock’s IBIT, Fidelity’s FBTC, Bitwise’s BITB, and the Ark 21Shares ARKB fund all had record trading volume days.

Not included in the new nine, the Short Bitcoin Strategy ETF (BITI) from ProShares also had a record trading day, which is “not a surprise considering it is a short Bitcoin ETF,” commented Balchunas.

The ProShares Bitcoin Strategy ETF (BITO) also broke its record, as did the Volatility Shares 2x leveraged Bitcoin Strategy ETF (BITX) fund. The analyst commented on the impact spot markets and Bitcoin’s new high have had on derivatives markets:

“Interesting the favorable impact spot craze has had on futures ETFs, huge spillover effect … didn’t anticipate that.”

He also pointed out that the ten spot Bitcoin ETFs have blown through $50 billion in assets under management. They began life seven weeks ago with less than $30 billion, and around $8 billion of it is from flows, while the rest is from Bitcoin’s value increasing, he said.

“If they keep up this pace and add $10b a month (which is pretty insane but very possible if BTC price complies) they will pass gold ETFs this summer.”

Moreover, March 4 was one of the highest days for inflows for BlackRock and Fidelity, as they notched up more than $400 million each.

Preliminary data from Farside Investors indicates that yesterday was another large outflow for Grayscale, with $332 million exiting the GBTC fund.

Leverage Flush Follows BTC Crash

Bitcoin flash crashed 12% following its new all-time high on Tuesday. The asset had recovered a little and was trading around the $66,000 level at the time of writing.

According to Coinglass, more than 312,00 traders, mostly longs, were liquidated over the past 24 hours, and total liquidations came in at $1.15 billion.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).




Source link

The post New Bitcoin ETFs Hit $10B in Record Trading Volume Day appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite

Earn BIG Commissions in 2023

In this post, we’re looking at the best niches for affiliate marketing . So, if you’re struggling to choose a niche for your blog or YouTube channel, this list will help. In this list, you’ll learn some key information to help you determine which is the right niche to choose for you. Information like: How big the niche is and its market share The products you can promote Sub niche ideas And some commission rates you can expect Keep reading. Best Niches for Affiliate Marketing We’ve researched and broken down 21 of the best niches for affiliate marketing, so you don’t have to. Let’s dive in. 1. Artificial Intelligence The Artificial Intelligence industry has exploded in recent years and is projected to be valued at close to US$2 trillion by 2030. That’s what makes this one of the best niches for affiliate marketing today. There is also a wide range of AI tools to promote with generous commissions. For example, LinkWhisper is an AI content optimization tool for SEO of...
Enregistrer un commentaire
Lire la suite