Bitcoin ETF

Spot

Grayscale Bitcoin Trust

<ul>
 <li>Spot BTC ETF launch records 700k transactions, $4.33 billion in volume.</li>
 <li>GBTC leads with $2.09 billion, likely driven by selling due to discount trading.</li>
 <li>Other ETFs like IBIT, FBTC, ARKB, and BITO also see significant volumes.</li>
</ul>
<p>The cryptocurrency market witnessed a historic moment with the launch of the spot Bitcoin Exchange-Traded Funds (ETFs), as reported by Bloomberg ETF analyst Eric Balchunas. On its very first day, the launch recorded an astonishing 700,000 individual transactions, with a total trading volume reaching a staggering $4.33 billion. This milestone marks a significant shift in the crypto market, showcasing the growing investor interest and confidence in Bitcoin as a mainstream investment option.</p>
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   <p lang="en" dir="ltr">According to Bloomberg ETF analyst Eric Balchunas, there were 700k individual transactions on the first day of the spot BTC ETF's launch, with trading volume reaching $4.33 billion, of which GBTC reached $2.09 billion, IBIT reached $1.01 billion, FBTC reached $673 million, and… <a href="https://t.co/VkeDtuqQFD" rel="noopener noreferrer nofollow">pic.twitter.com/VkeDtuqQFD</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1745626500777521267?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 12, 2024</a>
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<p>Leading the pack in trading volume was the Grayscale Bitcoin Trust (GBTC), which accounted for nearly half of the total with $2.09 billion. This immense trading activity in GBTC, however, was likely driven mostly by selling, as it has been trading at a discount throughout the session. This trend might indicate a shift of investor preference towards other new ETF products or a response to the trust’s pricing dynamics.</p>
<p>Other notable ETFs also showed impressive trading volumes. The iShares Bitcoin Trust (IBIT) reached $1.01 billion, the Fidelity Bitcoin ETF (FBTC) and the ARK Bitcoin ETF (ARKB) both recorded $673 million each. Additionally, the ProShares Bitcoin Strategy ETF (BITO) also reached a noteworthy $1.87 billion in trading volume.</p>
<p>The high trading volumes of these ETFs, especially on their first day, underline the immense market demand for regulated, accessible investment vehicles for Bitcoin. This trend is a clear indication of the cryptocurrency’s increasing acceptance among traditional investors and its integration into the broader financial ecosystem.</p>
<p>The success of the spot BTC ETFs’ launch day is a crucial development in the cryptocurrency world. It not only reflects the growing maturity of the crypto market but also points to a future where digital assets are a standard part of investment portfolios. As the market continues to evolve, these ETFs are expected to play a pivotal role in shaping the landscape of cryptocurrency investments.</p>
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<p>The post <a href="https://cryptonewsland.com/record-trading-volumes-on-day-1-of-spot-btc-etf-launch/" rel="noopener noreferrer nofollow">Record Trading Volumes on Day 1 of Spot BTC ETF Launch</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Record Trading Volumes on Day 1 of Spot BTC ETF Launch

Crypto News Land

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