Bitcoin ETFs Traded Staggering $111 Billion in March

Balchunas does not believe that these products will manage to record ever bigger volumes this April, but he does not rule anything out. , the Bitcoin price collapsed earlier today after spot ETFs once again recorded outflows. Grayscale's GBTC bled as much as $302 million in a single day on Apr. 1. Last March, the largest cryptocurrency managed to surge to its current all-time high of $73,737 due to strong ETF demand. However, it has since faced multiple corrections.

Despite heavyweights of the likes of BlackRock launching an effort to introduce such a product, the SEC is in no rush to approve an Ethereum ETF due to political pressure and concerns about market volatility. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.

Source: Digital Coin News (digitalcoinnews.net)

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