Summary
The first day of trading for the 10 approved spot bitcoin ETFs started strong, with total volumes surpassing $2.6 billion. BlackRock’s iShares Bitcoin Trust and Grayscale led the trade volume, followed by Fidelity. The price of bitcoin settled around $46,000 after briefly topping $49,000. The spot bitcoin ETFs surpassed $1 billion in trade volume within the first 30 minutes of trading. These volumes have far outpaced the volumes seen by the ProShares Bitcoin Strategy ETF. The US Securities and Exchange Commission approved the 11 spot bitcoin ETFs on Wednesday, allowing them to start trading on Thursday.
Key Points
1. The first day of trading for the 10 approved spot bitcoin ETFs had a strong start, with total volumes surpassing $2.6 billion.
2. BlackRock’s iShares Bitcoin Trust and Grayscale led the trade volume, with approximately 26 million shares traded for BlackRock’s fund and 33 million shares traded for Grayscale’s recently converted ETF.
3. Fidelity rounded out the top three ETFs with a volume of 11 million shares traded.