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The trading volume of bitcoin-ETF shares in three days exceeded the total volume of all ETFs launched in 2023. This applies to 11 new spot exchange traded funds for bitcoin, whose transaction volume approached $10 billion, exceeding the turnover of 500 ETFs for other assets launched last year. Experts note the impressive results, emphasizing that the trading turnover of the new bitcoin funds significantly exceeded the total transaction volume of all ETFs for other assets in a single trading session.

The analysis shows that Grayscale's bitcoin ETF reached a transaction volume close to $5 billion in three days, while funds from BlackRock and Fidelity Investments also showed significant performance - $2 billion and $1.5 billion respectively. In comparison to these figures, exchange-traded funds for other assets in January 2023 managed to accumulate just $450 million in a single trading session.

It should be noted that despite the impressive volume of transactions, bitcoin prices have not experienced significant volatility in recent days, having strengthened at $42.6k. However, given the general downward trend in bitcoin prices since the launch of the ETF, there has been a nearly 10% decline in the cryptocurrency's value.

Interestingly, despite the significant trading volume, the exchanges committed have not received $10 billion to buy bitcoin, ruling out the possibility that the funds may have operated from large wallets on various exchanges such as Coinbase, Binance and Bitfinex. However, this raises questions about the impact of exchange-traded bitcoin-ETFs on the price of the cryptocurrency, especially in the context of Garry Gensler's remarks about his lack of understanding of the euphoria surrounding their launch.

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