Bitcoin sunk to under $50,000 at the start of US trading on Aug. 5, prompting a huge spike in trading volumes of crypto-related ETFs.
The United States Bitcoin and Ether ETFs recorded nearly $6 billion in trading volume amid market turmoil on Aug. 5.
According to data from CoinGlass, spot Bitcoin (BTC) ETFs registered a total daily volume of $5.24 billion on the day, with more than half coming from BlackRock’s iShares Bitcoin Trust (IBIT).
Spot Ether (ETH) ETFs recorded $715.3 million in trading volume, led mainly by Grayscale’s Ethereum Trust (ETHE) and BlackRock’s iShares Ethereum Trust (ETHA).
