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BlackRock’s bitcoin ETF, which trades under the ticker IBIT, put up around $3.3b of that amount. Fidelity’s ETF, which trades under FBTC, came in at around $1.4b and Grayscale’s ETF, under ticker GBTC, saw volume of $1.8b. The volume is “largely” made up of natural demand, meaning that it’s not algorithmic.
“This is officially a craze,” said Bloomberg senior ETF analyst Eric Balchunas earlier on Wednesday. He noted that IBIT “traded more today than in its first two [weeks] combined.”
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