News - Bitcoin spot ETFs book record volumes: BTC rate reacts bullishly

By Ted Maas

Bitcoin spot ETFs book record volumes: BTC rate reacts bullishly

Bitcoin (BTC)
Price update

Bitcoin has been on the rise in recent weeks and has risen significantly. This is mainly due to spot ETFs.

Bitcoin reached a new high this past year and currently stands at €52.069. This means BTC has increased by a whopping 35 percent since the beginning of 2024.

Bitcoin spot ETFs are a major price driver. BlackRock, Fidelity and others are registering record volumes. Trading activity for the listed index funds has reached a record $2.4 billion, the highest level since trading began in early January of this year.

BlackRock alone now owns 130,231 BTC.

Meanwhile, outflows from the Grayscale Bitcoin ETF are dropping dramatically. Yesterday, Monday, Feb. 26, only USD 22 million flowed out of the index fund. By comparison, investors sold a total of USD 641 million worth of shares at the end of January. The drop in these outflows is causing the Bitcoin price to rise. Meanwhile, Bitcoin's price movement has not yet landed with retail investors. Looking at Google Trends, there is a small spike, but nothing compared to other years.

top 10 assets

With a market capitalization of $1.102 trillion, BTC is firmly in the top 10 largest assets in the world, leaving American automaker Tesla far behind. Incidentally, at the time of writing, Bitcoin is just 18 percent away from its all-time high of nearly 60,000.

Download the Anycoin App

Finally, a crypto app for everyone!

Check it out