Bitcoin ETF: GBTC Trading Volume Surpasses 10 Billion Mark
As the Bitcoin ETF market stabilized, GBTC emerged as the leader in terms of trading volumes for the past seven days. Grayscale Bitcoin Trust hit its very crucial milestone of 10 billion in terms of trading volume on Saturday, beating all other peers.
Grayscale sees highest trading volume in a week
GBTC recovered from its bleeding outflows this week after hitting its 10 billion mark in trading volumes. The number was the highest among its peers making GBTC the leader in volume game. The terrible outflows of the ETF trust had also pressured the prices of bitcoin previously, creating a doubtful investor sentiment.
GBTC outflows slowdown
GBTC had suffered terribly from day 1 of trading. Previously, Grayscale’s outflows reached a record-breaking $640.50 million net withdrawal on January 22. The sloppy tides of an increase in outflows saw all 12 Spot Bitcoin ETFs garnering net outflows of $87.20 million on the seventh day of trading.
However, Day 11 of trading saw GBTC’s outflows come down to $255.1 million, bringing the total outflows to almost $5 billion. This was the lowest outflow since the trading commenced. This event follows reports that on Wednesday, Grayscale transferred more than 19,000 BTC out of their principal wallet. It should be noted that Grayscale has moved nearly 113,000 BTC out of its holdings. has been
Bitcoin ETF market sees a rebound
The Bitcoin ETF trading has topsy-turvy trading after its debut. However, with various ETFs regaining ground, the market now seems to stabilize a little.
The dominance of GBTC in the Bitcoin ETF’s cumulative volume over the last seven days is a sign of the ongoing demand for exposure to Bitcoin in conventional investment vehicles. The growing maturity of the cryptocurrency ecosystem is reflected in the markets’ acknowledgment of digital assets as a viable asset class.
The prices of Bitcoin also regained momentum as market sentiments improved. At the time of writing, BTC was trading at $41,776.73, being nearly up 1% from the previous day. The overall market cap stood at $819.2 billion as the OG-crypto currency recovered from previous losses.
GBTC was followed by Blackrock and Fidelity in the race of trading volumes. Blackrock and Fidelity’s trading volumes for the past seven days stood at over 2.5 billion, each.
- Breaking: U.S. PCE Inflation Rises To 2.7% YoY, Bitcoin Bounces
- Breaking: $10 Trillion Vanguard Plans to Offer Crypto ETFs to Brokerage Clients
- BlackRock Loads Up on Bitcoin, Files For Premium ETF to Increase BTC Yield
- Best 10 Crypto Cards for 2025
- Expert Projects HYPE Token Upside as Bitwise Files for Hyperliquid ETF With SEC
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Is Ethereum Price Set for a rebound as Whale accumulation Intensifies?
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
- Bitcoin Price: Analyst Predicts Crash to $104K Before Explosive Rally on Fed Cut Pattern
- HBAR Price Elliot Wave Signals an 86% Rebound as Key Risks Remain
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
