Spot Bitcoin ETFs Trading Debut: $4.6B Traded, 700K Transactions

• Spot Bitcoin ETFs amassed $4.6 billion in trading volume on its first day of trading.
• 700,000 spot Bitcoin ETF transactions were recorded, which is twice the number of trades of Invesco (QQQ ETF).
• The significant number of trades in spot Bitcoin ETFs on the first day of trading indicates a robust retail presence.

In a historic first, U.S. exchanges witnessed a trading frenzy as the first-ever spot Bitcoin ETFs began trading. Over $4.6 billion in trading volume, representing over 700,000 individual transactions, swept across the market, marking a watershed moment for both the crypto and traditional financial worlds.

Among the 11 ETF issuers, Grayscale’s dominance was undeniable. Its converted GBTC fund single-handedly accounted for over $2.3 billion in trade volume. It’s worth noting that the conversion of GBTC into an ETF was a pivotal moment in the approval process of the first spot Bitcoin ETF in the US, following a court ruling that questioned the SEC’s previous rejection.

Aside from a remarkable trading volume, the 700,000 transactions of spot Bitcoin ETFs dwarfed even established giants like Invesco (QQQ ETF), which has only half that number of trad…

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