After months of hype and uncertainty surrounding the SEC’s approval of a Wall Street spot Bitcoin exchange trading product, the hopes of cryptocurrency investors appear to have been vindicated.
Of the total 11 ETFs approved, 9 Bitcoin ETFs that debuted on the stock market (Grayscale’s ETF is convertible and Hashdex is still converting its Bitcoin futures fund) closed at nearly $1.5 billion in the first two days. Attracted a large amount of new capital. That’s the size of the deal, according to preliminary data shared by Bloomberg senior ETF analyst Eric Balchunas.
in post At X, Balchunas shared updated figures on inflows and volume for nine ETFs. At the top of the list is BlackRock’s iShares ETF, which is estimated to have attracted nearly $500 million in capital in its first two days of trading due to lower fees. Fidelity’s ETFs also saw inflows of more than $422 million, while Bitwise came in third with $237 million. WisdomTree’s ETF took the lead with inflows of just $1 million.
BlackRock’s ETF also debuted with more than $1 billion in volume on its first day of trading, making it the second or third largest debut in ETF history. The nine ETFs recorded more than $3.6 billion in trading volume in the first two days, much of which came from BlackRock and Fidelity. According to the Wall Street Journal (WSJ), preliminary data points to a ‘monster start’ for spot Bitcoin ETFs.
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