Breaking: Spot Bitcoin ETF Trading Volume has Crossed $3 Billion!

The post Breaking: Spot Bitcoin ETF Trading Volume has Crossed $3 Billion! appeared first on Coinpedia Fintech News

The much-awaited spot Bitcoin ETF approval has created waves as in the first hour of trading it crossed $1.75 billion trading volume. The day before approval Bloomberg predicted $4 billion in inflows but the industry proved this forecast wrong as it crossed double then their anticipation. 

After witnessing landmark approval by the Securities and Exchange Commission for Spot Bitcoin ETF. The trading volume of Spot Bitcoin ETF has crossed $3 billion trading volume in just a few hours, breaking the record for Gold ETF trading volume.

This has sent crypto enthusiasts to the moon as their ETF approval wait is finally proving worthy of these record-breaking volumes.

First-Hour Trading Volume

After the approval of Spot Bitcoin ETF by the SEC, the market was still stagnant, but right after when trading started it witnessed almost 1.74 billion in the first hour itself.

The race is unstoppable, but BlackRock and Fidelity are leading the race as in early trading itself both giants have grossed almost $958 million in trading volume and Grayscale hit $1 billion in trading.

How Much Inflows We Can Expect?

Based on the speed with which the trading volume of spot Bitcoin ETFs is increasing, we can estimate that it will not take much time for $100 billion to be inflowed soon. There are many prominent analysts who have already speculated trading inflow as recently BlackRock predicted $4 billion inflows after approval and without taking much time right after approval this prediction proved BlackRock’s forecast coming true as of now it has crossed $3 billion inflows.