The United States witnesses the commencement of
pre-market trading for its first-ever Bitcoin exchange-traded funds (ETFs)
today (Thursday). BlackRock’s iShares Bitcoin Trust (IBIT) took the
lead, soaring by an impressive 22.25% in pre-market trading, Cointelegraph
reported, citing data from Yahoo Finance.
Meanwhile, Grayscale’s Bitcoin Trust (GBTC) also
entered the pre-market trading with a notable gain of 2%, reflecting the
growing interest surrounding these newly approved financial products among investors. With a substantial pre-market volume of $2 million,
IBIT’s impressive launch has prompted speculation about BlackRock’s influence in
driving this initial surge.
Meanwhile, Grayscale’s Bitcoin Trust (GBTC) entered
the pre-market trading, highlighting a gain of 2% during the early hours.
Listed on the New York Stock Exchange, GBTC added to the excitement surrounding
the launch of spot Bitcoin ETFs in the US. The approval of the applications from major companies such as BlackRock, Grayscale, and others by the US Securities and
Exchange Commission (SEC) paved the way for 11 spot Bitcoin ETFs to be listed
and traded on public exchanges.
Welcoming @iShares to the @NasdaqExchange Opening Bell. https://t.co/K9aO2FLBVs
— Nasdaq Exchange (@NasdaqExchange) January 11, 2024
Surprisingly, the price of Bitcoin did not respond
much to the approval of the spot Bitcoin ETF. It maintained a
steady price of around $46,000. In contrast, the fake news about the
approval of the funds that surfaced after the SEC’s website was compromised
triggered a more significant spike in the price of the digital asset.
Impressive Inflows Mark Spot Bitcoin ETF Debut
IBIT stands out as it charts a course toward an
unprecedented inflow of $3 billion on its inaugural trading day, Coindesk reported, citing crypto index provider CF Benchmarks. The recently
approved fund attracted $400 million within the first half-hour of trading,
According to CF
Benchmarks, IBIT’s first 30 minutes of trading experienced an influx of $400
million, hinting at a potential record-breaking $3 billion in assets under
management by the end of the first trading day.
If achieved, this would mark the largest debut in
ETF history, underlining the demand from investors seeking regulated
avenues to invest in bitcoin. CF Benchmarks’ CEO, Sui Chung, emphasized the ripple
effects of the success of IBIT. The ETF is expected to catalyze increased demand,
prompting market makers to allocate more capital to support liquidity.
The United States witnesses the commencement of
pre-market trading for its first-ever Bitcoin exchange-traded funds (ETFs)
today (Thursday). BlackRock’s iShares Bitcoin Trust (IBIT) took the
lead, soaring by an impressive 22.25% in pre-market trading, Cointelegraph
reported, citing data from Yahoo Finance.
Meanwhile, Grayscale’s Bitcoin Trust (GBTC) also
entered the pre-market trading with a notable gain of 2%, reflecting the
growing interest surrounding these newly approved financial products among investors. With a substantial pre-market volume of $2 million,
IBIT’s impressive launch has prompted speculation about BlackRock’s influence in
driving this initial surge.
Meanwhile, Grayscale’s Bitcoin Trust (GBTC) entered
the pre-market trading, highlighting a gain of 2% during the early hours.
Listed on the New York Stock Exchange, GBTC added to the excitement surrounding
the launch of spot Bitcoin ETFs in the US. The approval of the applications from major companies such as BlackRock, Grayscale, and others by the US Securities and
Exchange Commission (SEC) paved the way for 11 spot Bitcoin ETFs to be listed
and traded on public exchanges.
Welcoming @iShares to the @NasdaqExchange Opening Bell. https://t.co/K9aO2FLBVs
— Nasdaq Exchange (@NasdaqExchange) January 11, 2024
Surprisingly, the price of Bitcoin did not respond
much to the approval of the spot Bitcoin ETF. It maintained a
steady price of around $46,000. In contrast, the fake news about the
approval of the funds that surfaced after the SEC’s website was compromised
triggered a more significant spike in the price of the digital asset.
Impressive Inflows Mark Spot Bitcoin ETF Debut
IBIT stands out as it charts a course toward an
unprecedented inflow of $3 billion on its inaugural trading day, Coindesk reported, citing crypto index provider CF Benchmarks. The recently
approved fund attracted $400 million within the first half-hour of trading,
According to CF
Benchmarks, IBIT’s first 30 minutes of trading experienced an influx of $400
million, hinting at a potential record-breaking $3 billion in assets under
management by the end of the first trading day.
If achieved, this would mark the largest debut in
ETF history, underlining the demand from investors seeking regulated
avenues to invest in bitcoin. CF Benchmarks’ CEO, Sui Chung, emphasized the ripple
effects of the success of IBIT. The ETF is expected to catalyze increased demand,
prompting market makers to allocate more capital to support liquidity.
