- Coinbase Milestone: Coinbase International Exchange reaches $1 billion daily volume.
- Perpetual Futures Demand: Growing interest in crypto perpetual futures evident in institutional activity.
- Bitcoin ETFs Record Day: Newly launched spot Bitcoin ETFs in the US witness significant trading volumes.
Coinbase’s Milestone Coinbase Inئternational Exchange, based in Bermuda, has achieved a significant milestone, surpassing $1 billion in daily trading volume for the first time. CEO Brian Armstrong highlighted the platform’s continuous growth, emphasizing the potential for perpetual futures trading in the US market.
Perpetual Futures and Institutional Interest The surge in Coinbase International Exchange’s daily volume underscores the rising demand for crypto perpetual futures among institutional investors. These derivatives contracts, allowing speculation on digital asset prices without ownership, have gained traction, particularly among professional non-US traders.
Bitcoin ETFs Record Day Simultaneously, the US market witnessed a surge in spot Bitcoin exchange-traded funds (ETFs). On February 20, the newly launched batch of ETFs experienced the highest combined trading volume since their inception, reaching approximately $2 billion. Notably, VanEck’s Bitcoin Trust (HODL) set a new daily volume record, trading just under $400 million.