The first day of spot Bitcoin ETF trading on Wall Street turned out to be quite eventful with Grayscale dominating the trading with over $4 billion in trading volumes on the debut. Bitcoin made a mark in the history of ETF launch with unprecedented trading on the debut.
$4.6 Billion Bitcoin ETF Shares Exchange Hands
Almost a dozen Bitcoin ETF funds, including those from major investment players such as BlackRock Inc. and Fidelity Investments, had an impressive debut, with a flurry of activity resulting in approximately $4.6 billion worth of shares traded on the first day. Advocates within the industry view these ETFs as a pivotal launching pad for wider adoption by everyday investors and anticipate them serving as a catalyst for further market gains.
Bloomberg’s ETF strategist, Eric Balchunas, reported that a total of 700,000 individual trades were executed today involving the 11 spot ETFs. To provide context, this figure is twice the number of trades observed for $QQQ, although the
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