Share this article
Bitcoin Average Trade Size Jumps to Highest Level Since June After Grayscale Ruling
The increase in average trade size could suggest large traders are more active, said research firm Kaiko.
Updated Aug 30, 2023, 5:49 p.m. Published Aug 30, 2023, 5:49 p.m.
Bitcoin’s average trade size on most exchanges jumped to its highest point since June following a federal court ruling that the U.S. Securities and Exchange Commission (SEC) must review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF on Tuesday.
According to data from Kaiko, the average trade size for bitcoin on crypto exchange Kraken increased to above $2,000 on Tuesday after the ruling, from around $850 the day prior. The last time bitcoin’s average trade size was higher than $2,168 was in June, said research firm Kaiko. The bitcoin average trade size also jumped on most other exchanges.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“This could suggest large traders are more active,” said Dessislava Aubert, an analyst at Kaiko.
As the market's confidence in a bitcoin spot ETF approval increased, the price of bitcoin climbed more than 7%, topping $28,000 at one point on Tuesday afternoon after the Grayscale news broke. The price has since pulled to just above $27,900.
“This is one of the largest hourly moves since Terra (the other one was the Aug 17 selloff). This is partly due to low liquidity,” said Aubert. “For now, overall volumes did not spike that much and are at their highest level since the Aug 17 selloff."
Bitcoin tumbled about 9% on August 17, briefly sinking below $25,000 on crypto exchange Binance. Cryptocurrency traders saw $1 billion of losses in liquidations the same day as digital-asset markets suffered one of their worst sell-offs of the year, and bitcoin's price fell to a two-month low.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
BlackRock Files for Staked Ethereum ETF
The iShares Ethereum Staking Trust marks a bold push into on-chain yield exposure, as the SEC's tone has shifted under new leadership.
What to know:
- BlackRock has officially filed for a staked Ethereum ETF, marking its first formal move toward SEC approval.
- The filing reflects a shift in SEC policy under new Chair Paul Atkins after earlier pushback on staking features.
- BlackRock’s existing Ethereum fund holds $11B in ETH, but the new ETF would offer separate staking exposure.
Top Stories
