Bitcoin ETF

Bitcoin

Spot

The awaited&nbsp;<a href="https://www.coingabbar.com/en/crypto-currency-news/bitcoin-etf-approval-may-bring-big-changes-in-market" title="Spot Bitcoin ETFs" class="f-link" style="font-size: 16px; background-color: rgb(255, 255, 255);">approval of Spot Bitcoin ETFs</a> made some basic changes in the market. Here, we have seen the trading volume of Spot Bitcoin ETFs of more than $4.5 billion, where BlackRock, Grayscale, and Fidelity’s ETFs stay at the top. While one issuer didn't get the expected start, 
The iShares Bitcoin Trust (IBIT), BlackRock's Bitcoin ETF, emerged as the top-performing among recently listed funds, managing over $1 billion in volume. This constituted 22% of the total volume for the group.
Grayscale's Bitcoin ETF, traded as GBTC, achieved a total volume of $2.2 billion. This investment vehicle is a conversion of the pre-existing Grayscale Bitcoin Trust.
<h3 id="span-span-data-font-font-size-style-font-size-16px-hashdex-faces-setback-as-sec-withholds-effective-status-for-spot-bitcoin-etf-span-span">Hashdex Faces Setback as SEC Withholds Effective Status for Spot Bitcoin ETF</h3>
Despite the SEC's approval of Hashdex's 19b-4 filing, enabling the listing of its&nbsp;<a href="https://www.coingabbar.com/en/crypto-currency-news/no-major-movements-after-spot-bitcoin-etf-approval" title="Bitcoin ETF" class="f-link">spot Bitcoin ETF</a> on U.S. stock exchanges, the regulatory body did not grant effective status to its S-1 form. Consequently, Hashdex's "DEFI" fund continues to trade solely as a futures-based ETF.
In a subsequent corrected statement, the company clarified that the fund presently lacks any spot Bitcoin holdings in its portfolio.
It's crucial to recognize that trading volume, encompassing both inflows and outflows, may not provide a comprehensive overview of the day's trading activity, as it doesn't distinguish between buying and selling actions.
In a statement on Thursday, Vanguard announced its decision to prohibit clients from purchasing ETFs, citing the instruments as "highly speculative" and "unregulated," a stance misaligned with the company's long-term investing philosophy.
Notably, some users on the X platform shared their responses, revealing a shift in their investment accounts from Vanguard to Fidelity in response to this restriction.
The investors have lots of concerns in their minds about whether this trading volume will rise or not in the upcoming future.
Here, Coingabbar believes that regulatory developments and the stances of major firms may influence the future of Spot Bitcoin ETFs. Monitoring regulatory approvals and investor sentiment will be crucial.
Also Read: <a href="https://www.coingabbar.com/en/crypto-currency-news/bitcoin-etf-approval-could-bring-change-in-india" title="Bitcoin ETF Approval" class="f-link">Bitcoin ETF Approval Could Open Several Doors for Crypto in India</a>

Spot Bitcoin ETF Debut With 4.5B Dollar Trading Volume On First Day

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