Bitcoin ETFs have once again broken volumeVolume The amount of money or cryptocurrency exchanged over a specific period of time. records, with reported numbers reaching $7.6 billion, led by BlackRock. IBIT accounted for $3.3 billion, with $2.2 billion traded by 1 p.m. ET on Wednesday. Grayscale’s GBTC and Fidelity’s FBTC followed closely, recording volumes of $1.8 billion and $1.4 billion, respectively. The surge in volume on Wednesday surpassed the previous high of $4.6 billion seen on launch day. Eric Balchunas, a senior ETFExchange-Tradef Fund An Exchange-Traded Fund (ETF) is a type of investment fund that trades like a stock on a stock exchange. It offers a basket of underlying assets, similar to a mutual fund, but with the added benefit of intraday trading throughout the trading day. analyst at Bloomberg, noted the organic demand driving much of the volume, emphasizing the need for major platforms to expedite adding Bitcoin ETFs. Reports suggest Morgan Stanley may soon add ETFs to its brokerage platform, pending official confirmation. The surge in Bitcoin ETF demand coincides with a parabolic rise in Bitcoin’s value, briefly surpassing $64,000 and currently standing at $62,240.65. Analysts anticipate Bitcoin surpassing its all-time high (~$69,000) around the time of the Bitcoin Halving in April 2024, or sooner due to expected volatility. The Halving, expected on April 19, 2024, could impact prices by reducing token supply. Market conditions have caused outages on platforms like Coinbase and Coingecko, but they are expected to resume normal operations as Bitcoin ETF volumes continue to soar, with BlackRock leading the charge. (Source: CryptoNewsZ)