Day after day, spot ETFs are breaking records in terms of investments and trading volumes. On February 28, Bitcoin ETFs hit a record $673 million inflow in a single day. That's more than the first day of new product launches. BlackRock's IBIT set a new record in terms of new inflows with $612 million in one day.

Spot trading volume also reached an all-time high of $7.7 billion on February 26. Bloomberg's Eric Balchunas added futures-based ETF data to compare trading volumes from BITO's 2021 launch to the current hype.

The surge in interest in Bitcoin this week was so strong that leading US crypto exchanges have experienced technical difficulties providing customer service. Coinbase CEO Brian Armstrong posted on the X social-media platform yesterday that the surge in traffic was more than 10 times higher than the average. This came as a surprise to the company.

Bitcoin is gearing up for an imminent renewal of its all-time high amid increased demand, with investment firms and experts now forecasting an upward trajectory. Veteran analyst Peter Brandt, for example, raised the bull run target for Bitcoin from $120,000 to $200,000. And Bitwise CEO Hunter Horsley revised the long-term target to $250k, though he did not specify a timeframe. He explained the bullish attitude:

Bitcoin ETFs were Bitcoin's IPO moment. For 15 years, Bitcoin was only accessible to some. It's now available to any investor with the click of a button.

To prove his point, it was recently reported that due diligence was being conducted by Morgan Stanley, one of the largest brokers in the U.S., to add spot bitcoin ETF products to its brokerage platform.

Should brokers universally include Bitcoin as an investment asset, various estimates suggest that spot ETFs would attract between $50 billion and $120 billion in investments in the next five years. Now, less than two months later, they total $7.4 billion.

StormGain Analytical Group 
(platform for trading, exchanging and storing cryptocurrency)

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