Analysts of bitcoin exchange Coinbase believe that the launch of exchange-traded crypto ETFs in the U.S. will lead to a weakening of bitcoin (BTC) volatility. The range of price fluctuations of this asset will narrow, which will have a positive impact on its investment attractiveness.
The trading volume on the spot bitcoin-ETF market this week exceeded $200 billion. The day before, it reached $201.7 billion, according to The Block portal.
That is, the amount of transactions has more than doubled over the month, analysts emphasized. This week, the average daily turnover on the spot ETF market amounted to $2.9 billion.
The leaders were funds issued by BlackRock, Grayscale and Fidelity.
The share of BlackRock’s IBIT product accounts for up to 50% of the total volume of transactions on the market.
In January the share of this instrument was about 23%.
FBTC from Fidelity is on the third place with the market share of 16.9%