Bitcoin ETF volume reached $5b as Bitcoin price dropped $91k

The Bitcoin ETF has seen massive inflow from institutional investors since its launch in January 2024, allowing it to diversify assets without owning Bitcoin in the crypto market.

The Bitcoin spot exchange-traded fund (ETF) recorded $5 billion in trading volume on November 26; Volume was led by dominant key players in the industry such as BlackRock, Fidelity, and Grayscale.

BlackRock’s iShares Bitcoin Trust (IBIT) recorded $3.46 billion in trading volume in the last 24 hours, according to Coinglass data. At the time of writing, IBIT ranks highest among its competitors with assets under management (AUM) and market capitalizations of $47 billion and $44 billion respectively.

Fidelity Wise Origin Bitcoin Fund (FBTC), following the success of $620 million and $79 per share trading volume last day. Fidelity’s AUM reached $18 billion and market capitalization reached $17 billion.

Grayscale Bitcoin Trust ETF (GBTC), the third largest Bitcoin ETF issuer, has trading volume of almost $400 million. As the oldest issuer, GBTC has the highest expense ratio at 1.5% per share and caters to investors with a lower rate in Bitcoin Mini Trust (BTC), which trades at $70 million.

Bitcoin ETF rises, BTC price falls

In the cryptocurrency market, the price of Bitcoin (BTC) witnessed a decline of $91 thousand or 1.23% with different conviction. Although Bitcoin trading volume also increased by approximately 12% to $91 billion, the coin’s market value dropped slightly to $1.8 trillion, reducing its dominance to 57%.

The crypto market also faced the same amount of liquidations as the previous day, reaching $465 million. Bitcoin and small-cap coins lead the market in liquidations with $112 million and $81 million.