Bitcoin ETF Trading Frenzy Continues After Record $673M Net Inflow as BTC Price Nears Record

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Bitget2024/03/01 06:37

By:Bitget

Demand for spot bitcoin ETFs accelerated this week, notching a record $673 million net inflow Wednesday, according to BitMEX Research data. BlackRock's ETF – known as IBIT, which has the second-biggest asset total among bitcoin ETFs – was again among the top 10 most-traded ETFs in the U.S. around midday hours Thursday and posted over $1 billion in trading volume for the fourth consecutive day, according to Barchart data. As of 1:30 p.m. Eastern time (18:30 UTC), almost 36 million IBIT shares worth over $1.2 billion changed hands with two hours left of the trading session, per Barchart. Grayscale's GBTC and Fidelity's FBTC are also having a strong day, trading over $880 million and $660 million, respectively, so far.

Futures market Updates

Both OI and volume of Bitcoin and Ethereum in the last 24H decrease slightly. PORTAL listing was a blast and led the OI surge with a 83,691.99% increase overnight.

Bitcoin Futures Updates

Total BTC Open Interest: $26.12B (-3.12%)

BTC Volume (24H): $117.26B (-37.72%)

BTC Liquidations (24H): $56.96M (Long)/$38.90 (Short)

Long/Short Ratio: 50.36%/49.63%

Funding Rate: 0.556%

Ether Futures Updates

Total ETH Open Interest: $11.41B (-2.11%)

ETH Volume (24H): $50.07B (-28.66%)

ETH Liquidations (24H): $33.75M (Long)/$15.55M (Short)

Long/Short Ratio: 49.97%/50.03%

Funding Rate: 0.0491%

Top 3 OI Surges

PORTAL: $7.39M (+83,691.99%)

TURBO: $5.83 (+414.84%)

PEOPLE: $80.61M (+114.21%)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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