- Spot Bitcoin ETFs pick up momentum with fresh deals to generate trading volume
- All 11 ETFs were up 4% on the day, which is a sign of increased investor appetite
- BlackRock ETF hit $1.1 billion in trading volume in a single day
Bitcoin Makes Waves on Wall Street
Bitcoin continues to make waves on Wall Street, and that reverberates across ordinary investors in the US. On Tuesday, all eleven spot Bitcoin exchange-traded funds had a trading volume of up 4%, indicating increased investor appetite and a desire to make deals.
With that, the ETF by BlackRock, which happens to be the biggest of them all, notched $1.1 billion in trading volume over the day. After several days of lackluster performance, markets were excited to return to the ETFs, and there was no major news on deck to inspire trading activity.
Bitcoin Price Steady Near $61,500
Against that backdrop, the price of Bitcoin didn’t budge, despite the elevated interest in the investment vehicles holding genuine cryptocurrency. The leading digital asset was up about 3% on Tuesday, looking to recoup some of its Monday losses when prices dropped to levels near $58,500.
Early on Wednesday, Bitcoin was changing hands at around $61,500 per token as market participants showed moderate optimism about the novel asset class. Bitcoin is on track to wrap up a losing month—prices are down about 10% since the start of June. However, next month is shaping up to be a promising one. Historically, Bitcoin has performed well in July.
