Spot Bitcoin ETFs only trade during Wall Street hours (9:30 AM to 4 PM ET, business days), while Bitcoin trades around the clock on global markets. This structure creates significant price gaps at Monday’s opening when geopolitical events occur over the weekend, as ETF investors can only react once markets reopen. US spot Bitcoin ETFs held approximately $77.5 billion in assets at the end of July, with BlackRock alone holding $47.67 billion through its IBIT product. Institutional participation concentrated roughly 47% of Bitcoin volume during US weekday hours, with liquidity roughly twice as high on weekdays compared to weekends, amplifying price moves during weekend shocks. Cumulative net inflows to these funds reached approximately $51.64 billion, reflecting growing adoption despite the risk of divergence between Bitcoin’s price and ETF share value.
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