Bitcoin ETFs Hit Record $11.5 Billion Volume as Most Investors Slip Into Losses

Core Insights - US spot Bitcoin exchange-traded funds (ETFs) experienced their busiest trading session ever, with a combined trading volume of $11.5 billion, despite many investors facing losses due to a recent decline in Bitcoin prices [3][4][9] Trading Activity - The surge in trading activity indicates a market adjustment following a selloff, characterized by high turnover during periods of market stress [2][4] - BlackRock's IBIT ETF led the trading volume with $8 billion, representing over 69% of all spot Bitcoin ETF trading for the day, although it still recorded $122 million in outflows [6][7] - Other Bitcoin ETFs, particularly Fidelity's FBTC, saw net inflows of more than $238 million, despite the overall sector facing net outflows exceeding $3.5 billion for the month [7][8] Investor Sentiment - The average purchase price for spot Bitcoin ETF inflows was $91,725, and Bitcoin's recent drop below this level has resulted in unrealized losses for most holders [8] - Bitcoin's price fell approximately 12% this week, reaching a low of $80,000 before recovering to $84,431, reflecting a broader risk-off sentiment in the digital asset market [9]