On Monday, as Bitcoin surged to $54,938, the "New Nine" spot Bitcoin trading volume ETF set a new single-day record. Bloomberg ETF analyst Eric Balchunas shared data indicating that trading volume across these nine exchanges surpassed $2.4 billion on February 26, surpassing the previous high set on January 11. Notably, the record-breaking volume excludes trading volume for Grayscale's converted Bitcoin ETF product, Grayscale Bitcoin Trust (GBTC).
BlackRock’s IBIT led the pack with the largest trading volume on February 26, reaching $1.29 billion, marking its own single-day record with a significant gain of about 30%. Fidelity’s FBTC followed closely behind at $576 million, securing the second spot. Meanwhile, flows from the ARK 21Shares (ARKB) and Bitwise (BITB) ETFs amounted to $276 million and $81 million, respectively. Balchunas observed a surge in transaction volume, particularly notable on the first day of the trading week.
Although Balchunas was uncertain about the source of the newfound interest, he highlighted the consistent trend of increased trading volume at the beginning of the trading week. James Seyffart, another Bloomberg ETF analyst, noted that February 26 marked the second-largest trading day with $3.2 billion in volume, including flows from the Grayscale Bitcoin ETF.
Prior to IBIT's record-breaking performance, Balchunas emphasized its remarkable achievement, ranking 11th among all ETFs in terms of volume. He described the milestone as remarkable for a newcomer ETF, suggesting that daily trading volumes exceeding $1 billion signify significant institutional interest. Meanwhile, Bitcoin's price surged to $54,938 on February 26, reaching a two-year high, although it remained below the all-time high of $69,044 on November 10, 2021, as reported by CoinGecko.
Although flow data for February 26 is pending, BitMEX Research revealed that more than $583 million flowed into spot Bitcoin ETFs during the preceding four-day trading week. However, February 21 recorded a net outflow of $35.7 million, marking the first day without inflows since January 25. Year-to-date inflows have surpassed $5.5 billion, with IBIT, FBTC, ARKB, and BITB leading in inflows, while GBTC recorded outflows amounting to $7.4 billion.
