Bitcoin ETF Surge: Individual Trades Eclipse Leading Equities ETFs, Bloomberg Analysis Reveals
Bloomberg senior ETF analyst Eric Balchunas highlights a significant trend in the cryptocurrency market, noting that Bitcoin exchange-traded funds (ETFs), launched just in January, are witnessing a surge in individual trades surpassing those of the top two equities ETFs.
Balchunas shares via social media that Bitcoin ETFs are outpacing SPY and QQQ ETFs, even prior to the availability of options contracts on many platforms. He emphasizes the remarkable volume of retail participation in Bitcoin ETFs, with the majority of transactions being smaller in scale, although a few exceeding $1 million.
Balchunas aligns with Bitwise Invest chief executive Hunter Horsely’s perspective, likening the launch of Bitcoin ETFs to the cryptocurrency’s “initial public offering (IPO) moment,” emphasizing the accessibility and standardization ETFs bring to the market.
Clever Robot News Desk 29th February 2024
