In just one year, U.S. spot Bitcoin exchange-traded funds (ETFs) have crossed a major milestone, exceeding $750 billion in total trading volume since their introduction in January 2024.
After launching to much anticipation, spot Bitcoin ETFs rapidly gained traction, reaching $100 billion in volume by March 2024 and doubling that figure by April, fueled by Bitcoin’s surge to an all-time high close to $74,000.
However, as the overall crypto market slowed down, Bitcoin’s price consolidation between $50,000 and $70,000 for several months resulted in a dip in ETF trading activity.
A major rebound occurred after the U.S. presidential election in November 2024, with Bitcoin’s rally following Donald Trump’s pro-crypto stance, propelling spot Bitcoin ETFs past the $500 billion mark in just one week.
By the end of trading on Thursday, U.S. spot Bitcoin ETFs had reached a cumulative volume of $753.2 billion.
This makes them among the most traded ETFs in the world, rivaling traditional financial products like the Vanguard S&P 500 ETF (VOO) and the Invesco QQQ Trust (QQQ) Nasdaq-100 Index.
Veteran Bloomberg Intelligence strategist Mike McGlone has reiterated his bearish stance on Bitcoin, adding Dogecoin (DOGE) to the list of assets showing signs of weakness.
Bitcoin’s recent dip below $100,000 might feel discouraging, especially after soaring to $109,000 earlier this year.
Bitcoin’s ownership landscape has shifted, with two institutions—BlackRock and MicroStrategy—now jointly holding more BTC than Bitcoin’s mysterious creator, Satoshi Nakamoto.
Bitcoin (BTC) managed to surge past the price mark of $89,000, as investors flock to the cryptocurrency amidst traditional market turbulence and increasing political uncertainties.