US Bitcoin ETFs posted record trading volume of $10 billion yesterday as the cryptocurrency hit a new all-time high.
According to Bloomberg ETF analyst Eric Balchunas, these figures are exceptional for ETFs that have only been in existence for less than two months.
Meanwhile, Alessandro Ottaviani, a Bitcoin analyst, reported a slightly lower trading volume of $9.58 billion, which still surpassed the previous record of $7.7 billion set on February 28.
Of the three funds, BlackRock's iShares Bitcoin ETF (IBIT) had the highest trading volume at $3.7 billion, followed by the Grayscale Bitcoin Trust (GBTC) at $2.8 billion and the Fidelity Wise Origin Bitcoin Fund (FBTC) at $2 billion.
Bitcoin topped $69,200 yesterday, before retreating to around $62,000. It is currently trading around $66,000.