tl;dr
Last week saw Grayscale, BlackRock, and Fidelity secure approval for trading in the spot bitcoin ETF market, and they have emerged as leaders, dominating 90% of trading and totaling $1.6 billion/day despite a dip in total volume. BlackRock is emerging as a potential "Liquidity King," and overall tra...
Last week saw Grayscale, BlackRock, and Fidelity secure approval for trading in the spot bitcoin ETF market, and they have emerged as leaders, dominating 90% of trading and totaling $1.6 billion/day despite a dip in total volume. BlackRock is emerging as a potential "Liquidity King," and overall trading activity remains strong, exceeding $9.5 billion in the first 3 days. As the spot bitcoin ETF market matures, the dominance of these three signals a positive shift in the market.
As the curtains closed on Tuesday’s trading session, Grayscale, BlackRock, and Fidelity collectively accounted for a remarkable 90% of the total trading volume, contributing $1.6 billion to the overall trading volume of $1.8 billion. Despite a slight dip in the overall trading volume from the Friday peak of $3 billion, the market giants maintained an impressive stronghold, signaling the resilience of these entities in the evolving spot bitcoin ETF market. Coinpedia’s report showcased a strong start, with the first-day trading volume reaching an impressive $4.6 billion, laying the foundation for subsequent dominance of these three.
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