Bitcoin ETF's 2. Day Left Behind with $3.1 Billion: BlackRock Continues to Lead! - Coin Newsletter

Spot Bitcoin (BTC) ETFs saw more than $3.1 billion in demand on the second day of trading.

Interest in spot Bitcoin exchange-traded funds (ETFs) was also high on the second trading day. ETFs, which reached more than $4.6 billion in trading volume on the first trading day, hosted more than $3.1 billion in trading volume on the second trading day.

BlackRock, one of the world's financial giants, ranked first with a volume of 564 million dollars**, while Fidelity took the second place with a volume of 431 million dollars. The cumulative volume of spot Bitcoin ETFs reached approximately $7.7 billion in the first two days.

On the other hand, Grayscale's GBTC ETF, which is not new like competing funds and emerged as a result of a conversion request, was recorded as the most active spot Bitcoin ETF for the second day, with a volume of $1.8 billion, according to the data.

GBTC managed to stand out with a trading volume of $2.3 billion on its first trading day. But most of the volume was made up of investors who were selling.

Speaking on the second day of the spot Bitcoin ETFs, BlackRock CEO Larry Fink made an important point when comparing Bitcoin to gold:

when we look at Bitcoin, we see that gold is no different from what it has represented for thousands of years. Unlike gold, on the other hand, Bitcoin's supply is very limited and has almost reached the maximum supply that can be produced.

While market analysts interpreted the volume reached in the first 2 days as positive, it was predicted that more institutional investors** would flock to the market through ETFs in the coming period.