Spot Bitcoin exchange-traded funds (ETFs) received more than $4.6 billion in trading volume on their first day of trading.
According to Yahoo Finance data, Grayscale’s ETF, 2,3 billion dollar surpassed its competitors in terms of volume. It was followed by BlackRock with $1 billion and Fidelity ETFs with $712 million.
The US Securities and Exchange Commission (SEC) approved the ETF applications of Grayscale, BlackRock and Fidelity trio on Wednesday.
According to the estimate of Bloomberg analyst Eric Balchunas, Grayscale investors sold their shares It has such a high transaction volume. Unlike other ETFs purchase was made It is estimated.
The SEC’s approval of 11 spot Bitcoin ETFs was a first for the crypto industry in the United States. Standard Chartered analysts estimate that between $50 billion and $100 billion could flow into ETFs this year.
ETFs established by Valkyrie, WisdomTree, and Hashdex are available within the first few hours after trading begins. less than $10 million gained volume.