US spot Bitcoin exchange-traded funds (ETFs) had accumulated more than half a trillion dollars in trading volume on Wednesday, less than a year since their launch, The Block has reported.
The cumulative volume has grown rapidly since January, reaching $100 billion in March and $200 billion in April, when the value of bitcoin soared to new all-time highs, reaching nearly $74,000.
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However, trading volume growth then slowed due to the downturn in the crypto market, and Bitcoin fluctuated between $50,000 and $70,000 for the next seven months.
But on November 6, when pro-crypto candidate Donald Trump won the US presidential election, the market rebounded again and reached new all-time highs.