Trading volume of Bitcoin spot ETF shares reached $4.5 billion on the first day

2 min
Trading volume of Bitcoin spot ETF shares reached $4.5 billion on the first day

The leader in terms of trading volume was Grayscale’s Bitcoin ETF, a private investment fund called Grayscale Bitcoin Trust (GBTC) turned into an ETF. The figure amounted to $2.2 billion, while analysts believe that most of the volume came from the sale of previously purchased positions.

The leader in the new funds was the iShares Bitcoin ETF (IBIT) from BlackRock. The trading volume of shares of this fund slightly exceeded $1 billion, while the share price decreased by 4.69%. The second place in terms of trading volume was taken by Fidelity's fund, FBTC, where the figure reached $685 million on the first day.

Interestingly, the launch of spot ETFs has led to an unexpected surge in interest in the 2021-launched ProShares Futures Bitcoin ETF (BITO). During the day, the trading volume of shares of this fund exceeded $2 billion, which is a record figure. On the first day of trading in October 2021, trading volume was about $1 billion. However, it is quite possible that most investors withdrew funds and transferred them to cheaper and less volatile spot funds.

Note that shortly after the launch of spot ETF trading in the United States, the Bitcoin rate reached $49,000, but was unable to gain a foothold at this level and returned to $46,000. In general, the entire cryptocurrency market reacted rather restrainedly to the news about the approval of spot funds.

Other news

More news
Registration
You only need to enter your email and password, no additional data. Instant registration.