![Bitcoin](https://img.etimg.com/thumb/msid-110316470,width-210,height-158,imgsize-125308,resizemode-75/bitcoin.jpg)
The research suggests that the higher share of trading may be linked to the January launch of spot-Bitcoin exchange traded funds, since volume has increased near the beginning and close of US trading hours, according to Kaiko Research.
The ETFs calculate their net asset values each weekday at the close of US stock exchanges, which Kaiko said boosts price discovery and arbitrage trading. Thursday was the day of the week with the highest share of trading during these hours, with close to 15% of the cumulative daily volume, Kaiko found.
The demand has slowed recently, with only a net $925 million flowing into the funds so far in May, according to data compiled by Bloomberg.
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