Bitcoin ETF trading volume is at its highest level since its debut in January.

Bitcoin ETF (BTC) in the United States, this is the highest trading level since its launch in January last year.

Trading volume reached nearly $2 billion, the highest since the first day of trading on January 11. According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence.

The VanEck HODL ETF had nearly $400 million in trading volume. The WisdomTree Bitcoin Fund (BTCW) had a trading volume of $221.9 million, while the BitWise Fund had a trading volume of $178.29 million.

Balciunas said in His tweet On Twitter

He added: “And it’s not because of one big investor (which would make sense). This is due to 32,000 individual transactions, which is 60 times the average.”

Read also: Why could we witness a 40% correction in the Bitcoin price?

It is believed that the reason for the increase may be due to the closure of US markets on Monday for the Presidents' Day holiday, as trades concluded over the weekend were settled on the first business day of the week.

but relatively By Bitcoin price BTC It is currently trading just above $52,000 as of the US market close.

Greater shift to Bitcoin ETFs as risk appetite increases

"Strong institutional inflows into spot Bitcoin ETFs indicate risk appetite," said Greta Yuan, head of research at Hong Kong-based VDX. "At the same time, there are net outflows from gold ETFs. This could be the reason." “This is due to strong demand from global investors for US equities.”

Since the launch of 10 spot Bitcoin ETFs on January 11, gold ETFs have seen significant outflows.

This indicated an influx of about $10 billion into the two largest Bitcoin index funds. Emphasizing that this does not necessarily mean a direct transfer of money from gold to Bitcoin.

She continued: “While US stocks continue to rise, led by... artificial intelligencewe will most likely see further growth of my currency Bitcoin BTC AND Ethereum ETH Before the Bitcoin halving.”