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#bitcoin# #BTC#
Bitcoin nears $60,000 boosted by ETFs
2024-02-28 05:04
BTC | 4.68%
Yesterday was another day of intense volume for spot bitcoin ETFs (BTC) in the United States.
On Tuesday, February 27, these financial products (and not counting GBTC, the ETF issued by Grayscale, which was previously listed on secondary markets) were the protagonists of more than $2 billion in trading operations.
In the case of IBIT, the bitcoin ETF issued by the company BlackRock, once again broke its personal record, with $1.3 billion in trading volume. Eric Balchunas, a hedge fund specialist, clarifies: "To put it in context, that's more than what's traded [per day] in most large-cap U.S. stocks." The analyst adds that he doesn't know if this is "a new normal or some kind of short-term explosion."