GLD - Bitcoin ETFs Traded $111B In March: 2 New ETFs Could Mean The Action Gets Even Wilder | Benzinga
Bitcoin Exchange-Traded Funds (ETFs) experienced an astonishing trading volume of $111 billion in March, nearly tripling the volumes of January and February combined.
What Happened: This surge was highlighted in a series of tweets by prominent analysts, underscoring the monumental growth and interest in Bitcoin investment vehicles.
Eric Balchunas, a well-known ETF analyst, pointed out a significant shift in the market share of Bitcoin ETF volumes.
iShares Bitcoin Trust (NASDAQ:IBIT) has emerged as the dominant player, seizing a considerable portion from the Grayscale Bitcoin Trust (OTC:GBTC) which previously monopolized the market.
According to Balchunas, BlackRock‘s Bitcoin ETF is now akin to its gold ETF, essentially dominating the space with its volume.