- Spot Bitcoin ETFs hit a combined $2.27 billion in trading volume today.
- This number comes from BlackRock and Fidelity’s holdings alone.
- These milestones are a strong vote of confidence for long-term BTC investing.
One of the biggest reasons for Bitcoin and Ethereum to have gone more mainstream this bull cycle is due to the approval and launch of BTC and ETH ETFs. This move brought a lot of attention, funds, and interest into the crypto market, and several large asset managers began to heavily accumulate both assets at unprecedented levels. Today, BlackRock and Fidelity’s Spot Bitcoin ETFs Hit a Combined $2.27 billion in trading volume.
Spot ETFs Hit a Combined $2.27 Billion in Trading Volume
This crypto bull cycle was an interesting one for Bitcoin and Ethereum, due to a change in regulations and global adoption approaches. Before this bull cycle, Bitcoin (BTC), the pioneer crypto asset, and Ethereum (ETH), the pioneer altcoin asset, were popular only among crypto natives and a few visionary leaders. For instance, El Salvador and Strategy were buying and holding Bitcoin.
This bull cycle, the launch of Bitcoin and Ethereum Spot ETFs changed how these assets were viewed across financial institutions on a global scale. Once these products and services were filed and approved, both assets began experiencing rapid accumulation from financial institutions and large asset managers globally, including Fidelity, VanEck, BlackRock, and many more.
At the same time, since BTC was gaining mainstream adoption, and with Trump’s administration moving to accumulate crypto, governments and Bitcoin treasuries also began to heavily accumulate the asset. This has led analysts to believe that an epic supply shock will push BTC price up to incredibly high new ATH targets. At the same time, BTC supply on exchanges is dwindling at an alarming rate.
These Numbers Came From BlackRock and Fidelity’s Spot Bitcoin ETFs Alone
The same move is occurring for Ethereum (ETH) as well. Many institutions and treasuries are scooping up both BTC and ETH, contributing to both assets’ supply on exchanges to drop to new lows. What’s more, Bitcoin and Ethereum Spot ETFs are gaining more attention due to their obvious success, further propelling the asset accumulation race. Still, experts say a very small population is holding these assets, which encourages greater accumulation.
As we can see from the post above, BlackRock and Fidelity’s spot Bitcoin ETFs did a combined $2.27 billion in trading volume today. Responses to the post suggest that traditional financial markets are no longer just adopting Bitcoin, but rather that they are coming to completely rely on these assets. These trading volumes are a significant vote of confidence for long-term crypto adoption.
