On March 14, around 100 million shares of BlackRock's spot Bitcoin ETF were traded, amounting to over $3.9 billion in trading volume.
This exceeded the previous record set less than ten days ago on March 5, marking a significant achievement for the fund.
The increase in trading activity coincided with a 6% decline in Bitcoin's price during the U.S. trading day. Despite this, BlackRock's ETF continued to attract investor interest, emerging as the top-performing fund by volume and net inflows among the ten new ETFs launched in January.
While BlackRock's ETF leads in trading volume, the Grayscale Bitcoin Trust (GBTC) remains the largest among the ten U.S. Bitcoin ETFs by assets.
However, on March 14, BlackRock's ETF surpassed GBTC in trading volume, underscoring its growing prominence in the market.
The emergence of Bitcoin ETFs has transformed the landscape of cryptocurrency investment.
Bloomberg ETF analyst Eric Balchunas noted that the combined monthly trading volumes of the ten ETFs have already surpassed previous months' figures, with March recording over $65 billion in volume, indicating a substantial increase in investor participation.