As reported by CoinDesk, the introduction of spot Bitcoin ETFs in the US has had a positive impact on Bitcoin order book liquidity and its ability to maintain stable prices, Kaiko concludes.
On February 19, the measure of market depth, which represents the total value of orders within a 2% margin of the market price, amounted to $539 million across 33 centralized platforms.
This is the highest level since October 2023 and represents a 30% increase since the ETFs launched in January.
This increased liquidity allows for larger transactions without affecting the asset price (known as price slippage).
The share of US platforms in this depth of market increased from 14.3% to 48%, leading analysts to believe that the introduction of spot Bitcoin ETFs in the US has contributed to this growth.