A Record Volume for Bitcoin Spot ETFs
- The 11 approved Bitcoin spot ETFs have recorded volumes surpassing $1 billion in 30 minutes.
- BlackRock, Fidelity, and Grayscale are market leaders on the first day of trading.
- BlackRock’s product, iShares Bitcoin Trust, leads with approximately 10 million shares traded rapidly.
Record Transaction Volume for Bitcoin ETFs
Just minutes after being listed on the markets, the 11 SEC-approved Bitcoin spot ETFs recorded a total transaction volume surpassing the $1 billion mark.
This success was mainly driven by products from BlackRock, Fidelity, and Grayscale, which emerged as pioneers on the first day.
iShares Bitcoin Trust Dominating the Market
BlackRock’s flagship product, iShares Bitcoin Trust, dominated the market with approximately 10 million shares traded, representing a total volume of around $460 million shortly after market opening.
Fidelity (FBTC) and Grayscale were not far behind, with over 5 million shares traded for GBTC, while FBTC recorded over 10.5 million shares traded.
On the other hand, Ark Invest / 21Shares’ Bitcoin ETF recorded transaction volumes totaling around $90 million.
This excitement surrounding Bitcoin spot ETFs had a positive effect on the price of Bitcoin itself, which soared above $49,000, reaching its highest level since 2022. However, since the ETFs entered the market, BTC has seen its price drop by about 5% in the span of an hour and is currently trading around $45,600.
