The latest surge in interest for US bitcoin ETFs is putting additional pressure on firms that currently don’t offer their clients access to them, industry watchers say.
The 10-fund segment notched record net inflows of $673 million on Feb. 28. Combined trade volumes reached $7.6 billion that day, shattering the previous record of about $4.5 billion set during the ETFs’ first day on the market.
Last week’s weekly inflow total for the funds was roughly $1.7 billion — second only to the amount of more than $2.2 billion seen from Feb. 12 to Feb. 16. The trading volumes of the bitcoin ETFs reached new heights, amounting to about $22 billion from Feb. 26 to March 1.
“That demand absolutely impacts how these funds are viewed by wirehouses and wealth managers,” said Bitwise researcher Ryan Rasmussen.
Initial demand in these funds has been driven largely by retail investors. Analysts and industry executives have said they expect another wave of flows as more investment firms and platforms allow clients to allocate to the ETFs.
Read more: ‘Primary market’ for bitcoin ETFs largely hasn’t yet adopted such funds
Many platforms have specific liquidity requirements — like assets under management and average daily trading volume minimums — that funds must meet before they consider approving them on their platforms.
👇👇👇👇👇👇👇
FOLLOW FOR MORE
$BNB $ETH $BTC
