Bitcoin ETFs Capture Over $110 Billion in Trading Volume in March

Bitcoin exchange-traded funds listed in the US saw a surge in trading volume in March, reaching over $110 billion, which is three times higher than the volumes in January and February. BlackRock's IBIT accounted for almost 50% of the total trading volume, followed by Grayscale's GBTC and Fidelity's FBTC. The approval of US bitcoin ETFs by the Securities and Exchange Commission in January led to a change in the market dynamic from fundamentals to spot ETF performance, as bitcoin reached a record high of $73,000. BlackRock's volumes have mainly come from inflows since March 15, with a large portion from retail investors.