application to the U.S. Securities and Exchange Commission for a spot bitcoin exchange-traded-fund and similar filings by two other large financial services firms.
The trust’s trading volume increased to $45 million in June, maintaining its position as the industry’s most traded trust product, accounting for 74% of the volumes, according to CCData. This comes as multiple high-profile institutions have filed for ETFs in June, including Invesco and WisdomTree, along with BlackRock.
“The surge in GBTC's volumes and market share aligns with the growing positive sentiment towards the underlying asset,” CCData said. Compared with Grayscale’s ETHE trust, GBTC’s volume significantly outperformed in trading volume. Since September, GBTC's trading volume rose from $35.6 million to $45 million in June 2023, capturing 74% of the total trading volume for trust products, compared to 50.9% in September. ETHE's volumes declined from $31 million in September to $14.4 million in June 2023, and from 44.4% to 23.6% market share.
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