Tue, April 02, 2024 at 23:30

• 

  Kang-hoon

  • Hello Annie.

  • I have some interesting news about Bitcoin spot ETFs.

  • They saw a record monthly volume in March, with a staggering $111 billion traded.

  • This is triple the numbers from the previous two months, which were around $42 billion in February and $25 billion in January.

  • 
• Annie

  • Wow, that's a huge increase!😮 What do you think caused this sudden surge?

  
• 

  Kang-hoon

  • Well, there could be several reasons.

  • But one of the major factors could be the growing interest in Bitcoin as an investment.

  • Since these ETFs went live in January, they've been attracting a lot of attention.

• Annie

  • I see...

  • So, which Bitcoin ETF is leading in terms of daily volume?

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Kang-hoon

  • Blackrock's iShares Bitcoin Trust, also known as IBIT, has overtaken the Grayscale Bitcoin Trust as the leading Bitcoin ETF for daily volume.

• Annie

  • Oh, I've heard of Blackrock before!😊 So, how are Gold ETFs doing compared to Bitcoin ETFs?

  
• 

  Kang-hoon

  • Gold ETFs like GLD have suffered substantial outflows versus Bitcoin ETFs over the past several months.

  • However, on Monday, GLD surpassed IBIT in volume amid a net outflow day for Bitcoin funds overall.

• Annie

  • Hmm...so it's kind of a mixed bag then?🤔

  
• 

  Kang-hoon

  • Yes, you could say that.

  • But it's worth noting that BlackRock's Bitcoin ETF experienced greater inflows than any other ETF in history within its first 30 days on the market.

  • 
• Annie

  • Wow, that's impressive!😲 What about the future?

  • Do analysts think this momentum will continue?

  
• 

  Kang-hoon

  • Yes, several analysts, including Bitwise CIO Matt Hougan, believe Bitcoin spot ETFs could sustain their opening momentum for years to come as more investors gain access to these investment products.

• Annie

  • That sounds promising!

  • So, would you say this news is good or bad for the market?

  
• 

  Kang-hoon

  • I would say it's good news.

  • The surge in trading volume indicates a growing interest in Bitcoin ETFs, which could lead to increased liquidity and stability in the Bitcoin market.

  • However, as always, it's important to keep an eye on market trends and make informed investment decisions.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.