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The United States has witnessed the launch of its first spot <a href="https://en.bitcoinhaber.net/the-exciting-december-in-the-crypto-currency-world-bitcoin-and-ethereum-set-new-records-predictions-continue" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF), with the iShares Bitcoin fund (IBIT) by BlackRock starting pre-market trading on Nasdaq, showing a 22.25% increase to $26.81 prior to the market opening. This follows the Securities and Exchange Commission (SEC)’s approval.
Eric Balchunas, a senior ETF analyst at Bloomberg, noted that IBIT saw a remarkable $2 million trading volume in pre-market, which would be an excellent start for an average ETF. However, he cautioned that this initial volume might be driven by BlackRock itself.
In addition to BlackRock’s IBIT, Grayscale’s Bitcoin Trust (GBTC) also began pre-market trading, with its shares experiencing a 2% rise. GBTC will be available to investors through the New York Stock Exchange.
Pre-market trading refers to the process of buying and selling assets before the markets open, typically occurring between 8:00 AM and 9:30 AM Eastern Time. Investors often track pre-market movements to gauge potential market behavior following the opening.
The SEC’s historic decision approved 11 spot Bitcoin ETF applications from various firms including ARK 21 Shares, Invesco Galaxy, VanEck, and WisdomTree, allowing their listing and trading on public exchanges. All approved products officially started trading on January 11, with pre-market data indicating a positive start for the investment products. Despite the approvals, Bitcoin’s price remained around $46,000, with a notable spike to $48,000 on January 9 due to a false ETF approval rumor.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/historic-day-for-bitcoin-etfs-as-first-spot-fund-begins-pre-market-trading" rel="noopener noreferrer nofollow">Historic Day for Bitcoin ETFs as First Spot Fund Begins Pre-Market Trading</a></h5>

Historic Day for Bitcoin ETFs as First Spot Fund Begins Pre-Market Trading

BH NEWS

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