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 <p class="is-style-lead">Bitcoin made a 24-month high on day one of open <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> for spot BTC ETFs less than 24 hours after the SEC issued approval.&nbsp;</p>
 <p>On Jan. 11, the price of Bitcoin (BTC) hit $49,000 for the first time since December 2021 as <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> opened for spot BTC ETFs across major U.S. exchanges like the Nasdaq, NYSE, and CBOE.&nbsp;</p>
 <p>BTC’s <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> amounted to nearly a 10% increase in price, with Bitcoin’s market cap less than $100 billion away from becoming a $1 trillion asset. When this report was written, BTC’s price had somewhat retraced due to expected market volatility amid euphoria for spot BTC ETF approvals.&nbsp;</p>
 <p>As crypto.news previously reported, crypto’s leading token has a clear path to $55,000 and beyond if the $48,000 range is flipped into support. This could trigger a further run toward the $69,000 all-time high, only 31.1% away at press time.</p>
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   Bitcoin breaches $49,000 | Source: TradingView
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Robinhood to add support for spot Bitcoin ETFs ‘as soon as possible’
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 <p>Following over a decade of resistance against spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC), the regulator finally authorized issuers to list their products on Jan. 10.</p>
 <p>The SEC named 11 issuers in its approval document, including firms like ARK 21Shares, BlackRock, Bitwise, and VanEck. Trading opened to hundreds of millions in <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>, although there was a lack of consensus among market observers regarding the actual value of <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> into these BTC ETFs.&nbsp;</p>
 <p>However, Bloomberg’s Eric Balchunas said over $500 million was traded across spot BTC ETFs in the first 20 minutes, excluding Grayscale’s GBTC. Other sources placed the figure much higher, with some pointing to north of $2 billion traded already.</p>
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    <p lang="en" dir="ltr">Almost a good hour after this tweet and the number still isn't 2.3 billy.. it did however hit $1b and $1.8b if you incl $GBTC, which are UNREAL first day numbers (records will be smashed today). My source is a consolidation of all the exchange feeds via Bloomberg terminal. FYI! https://t.co/emqwEY0Hke</p>— Eric Balchunas (@EricBalchunas) January 11, 2024
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Hong Kong lawmaker advocates for swift adoption of spot Bitcoin ETFs following US lead
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-breaks-49k-as-spot-btc-etf-trading-volume-surges-tbt76321.html">https://thebittimes.com/bitcoin-breaks-49k-as-spot-btc-etf-trading-volume-surges-tbt76321.html</a></p>

Bitcoin breaks $49k as spot BTC ETF trading volume surges

TheBitTimes

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