Bitcoin ETF Market Experiences Resurgence of Spot Investments from U.S. Asset Managers

The Bitcoin exchange-traded fund market, particularly spot investments from U.S. asset managers, is experiencing a resurgence amid the recent price recovery.

The Bitcoin exchange-traded fund market, particularly spot investments from U.S. asset managers, is experiencing a resurgence amid the recent price recovery.

In an update today, market intelligence platform Santiment drew public attention to the latest data concerning Bitcoin ETF trading volumes.

7 Bitcoin ETFs Seeing $2.13B Average Volume 

The report revealed that the average daily trading volume of Bitcoin ETFs among the seven biggest ETF issuers is now $1.75 billion in July.

The ETFs include Grayscale’s GBTC, BlackRock’s IBIT, Fidelity’s FBTC, Ark Invest’s ARKB, Invesco Galaxy’s BTCO, Bitwise’s BITB, and VanEck’s HODL.

After a slow start to the month, their trading activity has picked up significantly, nearly doubling in figure. Specifically, the average volume from July 1 to 3 was $1.24 billion, but this figure increased to $2.13 billion from July 4 to 10, representing a 72% surge.

The month of July has seen an average of $1.75B in Bitcoin ETF volume per day among the 7 largest ETF's. However, things have picked up after a slow start:

Average volume, July 1st through 3th: $1.24B

Average volume, July 4th through 10th: $2.13B (+72% Rise) pic.twitter.com/Stmcw1e9ay

— Santiment (@santimentfeed) July 11, 2024

The new movement opposes the depressing trend observed in the past few weeks, where Bitcoin exhibited substantial price instability. Last week, Bitcoin encountered a bearish volatility that forced it to revisit the $53K range.

With the market recovering gradually, Bitcoin ETF trading volume has shown signs of resurgence as the premier asset rekindles optimism in the investment market.

In Q1, when Bitcoin was at an all-time high, trading volume surpassed $11 billion. With Bitcoin trading at $58,700 at press time, the one-week trading volume averaged $2.13 billion.

Bitcoin ETFs See Fourth Consecutive Positive Flow

Notably, this latest uptick in average Bitcoin ETF trading volume is also reflected in the flow of funds to the crypto investment products.

On Wednesday, the U.S. Bitcoin ETF market recorded over $147 million net flow, scoring the fourth consecutive trading day of positive flow. Asset managers that led yesterday’s figure included Fidelity, with $57.8 million, and BlackRock, with $22 million, though this is a massive drop from the $121 million recorded the previous day.

Interestingly, all U.S. ETF issuers experienced significant positive inflows, except for the WisdomTree Bitcoin Fund, which had zero flow, and Grayscale’s GBTC, which saw a negative flow of $8.2 million.

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