Bitcoin ETFs recorded $5 billion in trading volume, led by BlackRock’s IBIT with $3.46 billion, followed by Fidelity and Grayscale.
On November 26, the volume of trading in the Bitcoin spot exchange-traded fund (ETF) reached $5 billion. The volume was primarily driven by the industry’s dominant key participants, including Grayscale, Fidelity, and BlackRock.
BlackRock’s iShares Bitcoin Trust (IBIT) has experienced a record volume trading of $3.46 billion in the past 24 hours, as indicated by Coinglass data. At the time of this writing, IBIT has the highest market capitalization and asset under management (AUM) among its competitors, with $44 billion and $47 billion, respectively.
The Fidelity Wise Origin Bitcoin Fund (FBTC) has experienced a successful trading day, with a volume of $620 million and a price of $79 per share. Fidelity’s market capitalization was $17 billion, and its assets under management (AUM) totaled $18 billion.
Grayscale Bitcoin Trust ETF (GBTC), the third largest Bitcoin ETF issuer, generates nearly $400 million in trading volume. GBTC, the oldest issuer, has the highest expense ratio of 1.5% per share and is able to meet the requirements of investors with a lower ratio in Bitcoin Mini Trust (BTC), which is currently trading at $70 million.
The price of Bitcoin ETF increased, price of BTC decreased
In the past few days of trading, the price of Bitcoin in the cryptocurrency market has experienced a significant decline, falling to $91k, or a 1.23% decline. Although Bitcoin volume trading increased by approximately 12% to $91 billion, the coin’s market capitalization experienced a minor decline to $1.8 trillion, resulting in a 57% dominance.
The crypto market is also experiencing the same volume of liquidations as the previous day, which totaled $465 million. The market liquidations are led by Bitcoin and minor market cap coins, with $112 million and $81 million, respectively.
