US Spot Bitcoin ETFs Rack up $4.6 Billion in Trading Volume on Day 1 — Blackrock Debuts With $1 Billion

U.S. spot bitcoin exchange-traded funds (ETFs) racked up $4.6 cardinal successful full trading measurement connected their archetypal time of trading. Blackrock, the world’s largest plus manager, debuted with much than $1 cardinal successful trading measurement for its Ishares Bitcoin Trust. Grayscale’s spot bitcoin ETF, which converted from the Grayscale Bitcoin Trust, registered a full trading measurement of $2.3 billion. This is “easily the biggest Day One splash successful ETF history,” said an ETF analyst.

$4.6 Billion successful Total Trading Volume

The long-awaited debut of U.S. spot bitcoin exchange-traded funds (ETFs) ignited a trading frenzy connected their archetypal time of trading Thursday, reaching a cumulative measurement of $4.6 billion. Blackrock, the world’s largest plus manager, debuted with implicit $1 cardinal successful trading measurement for its Ishares Bitcoin Trust (IBIT), followed by Fidelity Wise Origin Bitcoin Fund (FBTC), with a trading measurement of $712 million.

Grayscale’s spot bitcoin ETF, which was converted from its bitcoin spot (GBTC), had a full trading measurement of $2.3 billion. Noting that Grayscale’s bitcoin ETF measurement “isn’t ‘new’ per se,” Bloomberg ETF expert Eric Balchunas opined connected societal media level X Thursday: “Good motion to spot 4 issuers implicit $100m. Strong mediate people successful the works.” He emphasized:

Easily the biggest Day One splash successful ETF history.

In a follow-up post, the Bloomberg expert wrote: “All told determination were 700,000 idiosyncratic trades contiguous successful and retired of the 11 spot ETFs. For context, that is treble the fig of trades for $QQQ (altho it sees overmuch bigger $ measurement bc bigger food usage it) So a batch much grassroots enactment (vs large effect buys) than I expected which is good.”

The SEC approved 11 spot bitcoin ETFs connected Wednesday aft galore years of anticipation. All of them started trading connected Thursday. However, contempt greenlighting spot bitcoin ETFs, SEC Chair Gary Gensler cautioned that this wasn’t an endorsement of bitcoin itself. He continues to caution investors astir the risks of investing successful crypto assets.

What bash you deliberation astir U.S. spot bitcoin ETFs connected their archetypal time of trading? Let america cognize successful the comments conception below.