Bloomberg analysts: The daily trading volume of nine spot Bitcoin ETFs increased by 34%

2024-01-19 09:45:03

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ChainCatcher news, Bloomberg ETF analyst Eric Balchunas pointed out that, unlike the usual trend of declining trading volume day by day after the launch of new products, the nine newly listed spot Bitcoin ETFs experienced a 34% increase in trading volume on the 5th day compared to the 4th day after their listing, which is relatively rare in the market. In this regard, Balchunas further analyzed that this unusual increase in trading volume is not caused by market volatility, as all products except GBTC have seen an increase in trading volume.

In addition, he also mentioned that the discount issue currently facing GBTC is worsening, with its discount widening back to 96 basis points, which may be due to selling pressure, but the exact reason still needs to be observed from the flow of funds.

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