Tue, April 02, 2024 at 23:30

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    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.

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  • Annie

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

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    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?

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  • ADward

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

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    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?

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    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?🤔

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    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.

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  • Annie

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

    • Do analysts think this momentum will continue?

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    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?

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    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.