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July 18, 2024
PI Global Investments

Bitcoin (BTC) Volume Jumps as First US Spot ETFs Begin Trading

Bitcoin trading jumped to an almost 10-month high as investors geared up for Wall Street’s opening bell, when the US’s first exchange-traded funds investing directly in the biggest cryptocurrency will become widely available.

Daily trading volume for Bitcoin across cryptocurrency exchanges reached $52 billion as of 7.15 a.m. in New York on Thursday, according to data from CoinGecko. That’s the highest since March 21 last year, when the token rallied as the collapses of banks like Silvergate Capital Corp. and Silicon Valley Bank rocked confidence in the traditional financial system.

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