The trading volume of spot Bitcoin exchange-traded funds soared to $111 billion in March, a significant increase from the $42.2 billion recorded in February.
This spike in trading volume was largely due to the dominance of Grayscale and BlackRock ETFs in the market.
Data from Bloomberg ETF analyst Eric Balchunas reveals that spot Bitcoin ETF trading volume reached $111 billion in March, a strong performance following their debut on January 11.
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BlackRock's IBIT remained the best-performing Bitcoin ETF, followed by Grayscale's GBTC and Fidelity's FBTC.
According to data from Farside Investors, April 1 saw a total of $86 million in net outflows for cumulative spot Bitcoin ETFs.