BTC ETF Officially Launches

Indra55

The inaugural trading day of the first batch of spot Bitcoin Exchange-Traded Funds (ETFs) in the United States has seen a robust start, with trading volumes reaching several billion dollars on the first day of listing. As of 1:00 pm New York time on Thursday, the trading value of 11 U.S. spot Bitcoin ETFs exceeded $3.5 billion. According to data compiled by Bloomberg, the trading volume of Grayscale's Bitcoin Trust converted into ETFs was approximately $1.7 billion. Meanwhile, the turnover for BlackRock's iShares Bitcoin Trust Fund (IBIT) has surpassed $880 million.

"This is definitely groundbreaking," stated Athanasios Psarofagis, an ETF analyst at Bloomberg Intelligence. "There is no doubt that the demand for these ETFs will be strong, but the overall numbers are impressive."

However, it is challenging to compare Thursday's trading activity with any day in the history of ETFs. Typically, only one fund tracking a new asset class starts trading in a day. The simultaneous launch of over a dozen nearly identical funds is unprecedented. Even focusing on a single ETF demonstrates the immense scale of the trading activity.

Nimmi373

Now there's more reason to pay attention to this thing.

Ritu13

Being online provides even greater opportunities.

Yamini003

It's online, and that's a good thing.