This Tuesday, the total daily trading volume across the 11 spot bitcoin ETFs reached a one-month high of $2.58 billion in flows.

This week, a record was reached on spot bitcoin ETFs, these new financial products which arrived on the market in mid-January. On Tuesday, total daily trading volume across the 11 spot bitcoin ETFs hit a one-month high of $2.58 billion in flows, according to The Block. Giant Blackrock’s ETF (IBIT) recorded the highest volume at $623.89 million, just ahead of Grayscale’s GBTC fund with $619.76 million. had not been observed since January 15, i.e. 5 days after the introduction of these products.

As a reminder, an ETF (or Exchange Traded Funds) is an index fund trading on a stock exchange which follows the evolution of a stock index (or one or more financial or physical assets, such as gold ) by replicating the rise or fall in the price of this index (or these assets).

From gold…to bitcoin

At the moment, ETF investors seem more interested in bitcoin than gold. Indeed, the 14 main gold-based ETFs faced net outflows of $2.4 billion over a rolling year, according to Bloomberg. Since the start of the year, it has been the same trend, with more exits than entries in these gold-backed investment products. Conversely, since their arrival on the market, spot bitcoin ETFs have accumulated positive flows. In this context, several analysts believe that bitcoin could replace gold as a safe haven in the coming years.

As a reminder, on January 10, the American stock market watchdog (the SEC) authorized 11 spot bitcoin ETFs, offered in particular by asset managers like Blackrock and Fidelity. Before this date, the SEC only approved ETF of bitcoin futures contracts (this was the case since 2021) but not the ETF bitcoin spot (spot), whereas futures contracts are more difficult to manipulate because the market is based on futures prices from the Chicago Mercantile Exchange (CME), regulated by the Commodity Futures Trading Commission (CTFC).


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