It took less than a week after the news that VanEck's BTC ETF was cutting fees for trading volume to surge to record levels. On Tuesday, it crossed the USD 300 million mark, more than ten times as much as on its best day so far. The record was quickly noticed by analysts who are impressed with how well this ETF is performing.
BTC ETF from VanEck on the green wave
The BTC ETF craze continues. From week to week, the impact of such a strong interest in cryptocurrencies is becoming more and more visible, as the market is flooded with a green wave. The biggest winner of the ETF race was BlackRock, whose BTC ETF “devoured” as much as 58% of the inflows to the market of ETF funds based on Satoshi Nakamoto's cryptocurrency last week. Interestingly, the BTC ETF from VanEck, which was launched on January 11, is also gaining a lot. The previous record daily trading volume was $25.5 million, according to data from Yahoo Finance.
Bloomberg ETF analyst Eric Balchanus wrote on X about how well the BTC ETF from VanEck is doing. Balchanus points out that the fund's volume is currently 14 times its average daily turnover. There is no denying that BTC ETG from VanEck is doing really well, especially considering competing on the market with a giant like BlackRock.
When will the BTC ETF craze end?
Spot ETFs based on Bitcoin have captured the minds of investors and it seems that the market is chanting the slogan “everyone has Bitcoin – I have it too!” However, there is concern among the cryptocurrency community about how investors will behave in the event of a market correction, which is a natural and cyclical phenomenon.
Investors entering the cryptocurrency market during a bull market may be very sensitive to any fluctuations in the price of Satoshi Nakamoto's cryptocurrency. Nevertheless, the Bitcoin halving is fast approaching, which will bring with it a bull market (as in the case of all previous halvings). The question then arises whether a price correction will occur at all before the halving? There is less and less time for this, and the interest in BTC ETFs is increasing.
