Spot Bitcoin ETF Debut With 4.5 Billion Trading Volume On First Day
The debut of Spot Bitcoin ETFs resulted in a trading volume of over $4.5 billion, with BlackRock, Grayscale, and Fidelity’s ETFs leading the way.
Hashdex faced a setback as the SEC withheld effective status for its Spot Bitcoin ETF, causing it to trade solely as a futures-based ETF.
Vanguard announced a decision to prohibit clients from purchasing ETFs, leading some investors to shift their accounts from Vanguard to Fidelity.
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The awaited approval of Spot Bitcoin ETFs made some basic changes in the market. Here, we have seen the trading volume of Spot Bitcoin ETFs of more than $4.5 billion, where BlackRock, Grayscale, and Fidelity’s ETFs stay at the top. While one issuer didn’t get the expected start,
The iShares Bitcoin Trust (IBIT), BlackRock’s Bitcoin ETF, emerged as the top-performing among recently listed funds, managing over $1 billion in volume. This constituted 22% of the total volume for the group.
Grayscale’s Bitcoin ETF, traded as GBTC, achieved a total volume of $2.2 billion. This investment vehicle is a conversion of the pre-existing Grayscale Bitcoin Trust.
Hashdex Faces Setback as SEC Withholds Effective Status for Spot Bitco
Despite the SEC’s approval of Hashdex’s 19b-4 filing, enabling the listing of its spot Bitcoin ETF on U.S. stock exchanges, the regulatory body did not grant effective status to its S-1 form. Consequently, Hashdex’s “DEFI” fund continues to trade solely as a futures-based ETF.
In a subsequent corrected statement, the company clarified that the fund presently lacks any spot Bitcoin holdings in its portfolio.
It’s crucial to recognize that trading volume, encompassing both inflows and outflows, may not provide a comprehensive overview of the day’s trading activity, as it doesn’t distinguish between buying and selling acti
In a statement on Thursday, Vanguard announced its decision to prohibit clients from purchasing ETFs, citing the instruments as “highly speculative” and “unregulated,” a stance misaligned with the company’s long-term investing philosophy.
Notably, some users on the X platform shared their responses, revealing a shift in their investment accounts from Vanguard to Fidelity in response to this restriction.
The investors have lots of concerns in their minds about whether this trading volume will rise or not in the upcoming future.
Here, Coingabbar believes that regulatory developments and the stances of major firms may influence the future of Spot Bitcoin ETFs. Monitoring regulatory approvals and investor sentiment will be crucial.ons.in ETFnguard
