Spot Bitcoin ETFs Make Stellar $4.5 Billion Debut, Surpassing Expectations

The debut of the newly launched spot Bitcoin ETFs exceeded expectations on day one, recording over $4.5 billion in total volume and achieving significant milestones.

Wall Street’s appetite for Bitcoin was evident as BlackRock’s iShares Bitcoin Trust, trading under the IBIT ticker on Nasdaq, nearly reached $1 billion in volume, representing 22% of the total volume across all 10 spot Bitcoin ETFs. Despite a strong morning showing, IBIT closed at $26.62, down 4.6% from its open. Notably, Grayscale Bitcoin Trust, with a decade-long history, set a record with an all-time high daily volume of 56 million shares on the same day, surpassing its previous high of 40 million shares on May 25, 2017.

Additionally, the Hashdex Bitcoin ETF, initially included in the SEC’s approval announcement, clarified that it received permission to convert its Hashdex Bitcoin Futures ETF to a spot BTC fund but is yet to implement the change pending SEC review. Once finalized, it will bring the total number of Bitcoin ETFs trading in the U.S. back up to 11.

Clever Robot News Desk 12th January 2024

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