Cryptocurrency Trade Volumes Soar Following ETF Applications by Major Asset Management Firms

The trading volumes in the cryptocurrency market saw an uptick in June for the first time in three months, driven by investor optimism following applications for spot Bitcoin exchange-traded funds (ETFs) submitted to the US Securities and Exchange Commission (SEC) by major asset management firms, including the world’s largest, BlackRock. Spot and Derivative Trading Volume Increased by 14% in June According to a report prepared by CCData, the spot and derivative trading volume on centralized cryptocurrency exchanges rose by 14% to $2.71 trillion in June, marking the first monthly increase since March. The rise in trading volumes in the cryptocurrency market was boosted by increased optimism following applications to the SEC for spot Bitcoin ETFs by several high-profile American companies, including Invesco, WisdomTree, and Fidelity. CCData noted, “The increased volatility following the SEC’s lawsuit against Binance US and Coinbase, and applications to the SEC for spot Bitcoin ETFs by companies […] The post Cryptocurrency Trade Volumes Soar Following ETF Applications by Major Asset Management Firms appeared first on COINTURK NEWS.