U.S. Spot Bitcoin ETFs Near $2 Trillion in Cumulative Trading Volume

U.S.-listed spot Bitcoin ETFs have generated $1.99 trillion in total trading volume since debuting in January 2024 and are poised to top $2 trillion as soon as Friday, The Block reported, citing ChainThink. BlackRock's iShares Bitcoin Trust (IBIT) continues to lead the market, accounting for 73.7% of all spot Bitcoin ETF trading volume and managing about $49 billion in assets. Total assets under management across the category have climbed above $76 billion. On the flows side, spot Bitcoin ETFs have taken in a cumulative net $53.9 billion since launch. Since Bitcoin hit its record near $126,000 in October last year, the group has logged $7.6 billion in net outflows. Year to date, net outflows total $3 billion, including a recent 13-day streak that saw $4.3 billion pulled. Ethereum spot ETFs have also recorded net outflows of roughly $1.1 billion this year. Bitcoin was recently trading around $63,750, about 50% below its all-time high. In related news, BlackRock on Thursday filed Form 8A with the U.S. Securities and Exchange Commission to finalize registration for the iShares Bitcoin Premium Income ETF. The fund aims to generate income by actively selling options on IBIT shares and a Bitcoin ETP index, and analysts expect a listing in the near term.