Bloomberg Analyst: BlackRock Spot Bitcoin ETF Trading Volume Exceeds Last Year’s 500 New ETFs Combined

Bloomberg analyst Eric Balchunas stated on X platform that 500 ETFs were launched in 2023, and their total trading volume now stands at $450 million. The best performer has a trading volume of $45 million, while the trading volume of BlackRock's Bitcoin ETF (IBIT) alone exceeds the total of these 500 ETFs. The analyst explained that "it is difficult to obtain trading volume, even more difficult than liquidity. Half of the trading volume of these 500 new ETFs today is less than $1 million. Because trading volume must naturally form in the market and cannot be forged, it gives ETFs the ability to continue operating."