Spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded over $5 billion in every day buying and selling quantity within the US on Aug. 5.
That is the primary time spot Bitcoin ETFs within the US have registered over $5 billion since mid-April.
In response to DefiLlama, BlackRock’s IBIT was chargeable for almost $3 billion in buying and selling quantity and managed to managed to extend its belongings underneath administration by $172 million. Constancy’s FBTC moved over $858 million, registering the second most important buying and selling quantity within the US.
Regardless of an outflow of almost $148 million, Grayscale’s GBTC buying and selling quantity surpassed $693 million, making it the ETF with the third-largest buying and selling quantity for the day.
The great and the dangerous
Eric Balchunas, senior ETF analyst at Bloomberg, highlighted in an X (previously Twitter) put up that Bitcoin bulls don’t need to see a whole lot of quantity on a nasty day, as it’s a “fairly dependable measure of worry.”
Notably, the Crypto Worry and Greed Index presently stands firmly within the worry zone on Aug. 5, registering 26 factors out of 100, the place 0 is absolute worry and 100 is absolute greed. This contrasts closely with the 74 factors registered precisely one week in the past when Bitcoin closed in on $70,000.
Nonetheless, Balchunas additionally identified that deep liquidity on dangerous days can also be a very good indicator, as merchants and establishments reward this about ETFs. He stated:
“So that you additionally need to see quantity too, good for the long run.”
