U.S. Bitcoin ETFs Garner $4.6 Billion in Volume on Debut Trading Day

Jan 12, 2024: Bitcoin exchange-traded funds (ETFs) listed in the U.S. witnessed a trading volume of $4.6 billion as of Thursday afternoon, following their approval by the U.S. Securities and Exchange Commission (SEC) on Wednesday. Eleven spot bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, and ARK 21Shares Bitcoin ETF, commenced trading on Thursday, marking a significant milestone for the cryptocurrency industry. Notable players like Grayscale, BlackRock, and Fidelity dominated the trading volumes, signaling a competitive environment for market share. While the SEC’s approval lifted bitcoin prices to their highest level since December 2021, it emphasized that it does not endorse bitcoin, referring to it as a “speculative, volatile asset.”