- Spot Bitcoin ETFs amassed $4.6 billion in trading volume on its first day of trading.
- 700,000 spot Bitcoin ETF transactions were recorded, which is twice the number of trades of Invesco (QQQ ETF).
- The significant number of trades in spot Bitcoin ETFs on the first day of trading indicates a robust retail presence.
In a historic first, U.S. exchanges witnessed a trading frenzy as the first-ever spot Bitcoin ETFs began trading. Over $4.6 billion in trading volume, representing over 700,000 individual transactions, swept across the market, marking a watershed moment for both the crypto and traditional financial worlds.
Among the 11 ETF issuers, Grayscale’s dominance was undeniable. Its converted GBTC fund single-handedly accounted for over $2.3 billion in trade volume. It’s worth noting that the conversion of GBTC into an ETF was a pivotal moment in the approval process of the first spot Bitcoin ETF in the US, following a court ruling that questioned the SEC’s previous rejection.
Aside from a remarkable trading volume, the 700,000 transactions of spot Bitcoin ETFs dwarfed even established giants like Invesco (QQQ ETF), which has only half that number of trad…
The post Spot Bitcoin ETFs Trading Debut: $4.6B Traded, 700K Transactions appeared first on Coin Edition.