Bitcoin ETF Trading Volume Races Past $1.3B as Investors Scramble for Discounted BTC
Trading volumes for Bitcoin exchange-traded funds (Bitcoin ETF) surged past $1 billion on August 5 amid a pronounced cryptocurrency market downturn, triggering heightened trading activity across digital assets.
According to Alex Thorn, head of research at asset manager Galaxy Digital, the “extremely elevated” trading volumes following the market drawdown were particularly pronounced in Bitcoin ETFs.
Within just 20 minutes of trading on August 5, Bitcoin ETFs recorded over $1.3 billion in trading volume.
Thorn anticipates that these ETFs will see net inflows as investors seek to capitalize on a roughly 8% drop in spot Bitcoin prices since August 4.
Notably, the downturn was primarily led by Ethereum, which experienced a significant price decline of over 21% in the last 24 hours.
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