U.S. spot Bitcoin exchange-traded funds (ETFs) surpassed $500 billion in cumulative trading volume on Wednesday, marking a major milestone less than a year since their launch in January. Spot Bitcoin ETFs gained momentum quickly, reaching $100 billion in trading volume by March and $200 billion by April as Bitcoin climbed to new record highs near $74,000 earlier this year. Despite a cooling period with Bitcoin trading in the $50,000-$70,000 range, volume has spiked again following Donald Trump’s pro-crypto U.S. presidential election win in November.
By the close of trading yesterday, cumulative volume for U.S. spot Bitcoin ETFs reached $505.4 billion. This surge places these new Bitcoin funds among the largest ETFs globally, competing with established giants like the Vanguard S&P 500 ETF (VOO) and the Invesco QQQ Trust (QQQ) Nasdaq-100 Index.
BlackRock’s IBIT Leads with Record Trading Volumes
Wednesday’s activity saw U.S. spot Bitcoin ETFs generate $7.9 billion in trading volume, the fourth-highest daily total since launch. BlackRock’s IBIT led with a record $5.2 billion traded, followed by Fidelity’s FBTC with $1.2 billion and Grayscale’s GBTC at $670 million. “IBIT just saw $5 billion in volume today for the first time ever,” commented Bloomberg Senior ETF Analyst Eric Balchunas, noting IBIT’s rapid rise to dominate 67% of the spot Bitcoin ETF market.
Ethereum ETFs Gain Traction as Bitcoin ETFs See Half-Billion Net Inflows
Ethereum ETFs, launched in July, also recorded a volume resurgence with $702 million traded on Wednesday, bringing their cumulative total to $22.3 billion. Meanwhile, spot Bitcoin ETFs experienced another $510.1 million in net inflows, adding up to $2.4 billion in just three days. Over six consecutive days of positive flows, Bitcoin ETFs have accumulated $4.7 billion since Trump’s election, with total net inflows nearing $30 billion since January.
Bitcoin ETFs Reach $89 Billion in AUM, Led by BlackRock’s IBIT
Boosted by recent price gains, U.S. spot Bitcoin ETFs now represent around $89 billion in assets under management (AUM). BlackRock’s IBIT leads with $41.1 billion, marking a significant achievement in the ETF space as Bitcoin ETFs continue to attract retail and institutional investors alike.
