U.S.-Listed Bitcoin ETFs Witness $4.6 Billion in Trading Post-Approval

U.S.-Listed Bitcoin ETFs Witness $4.6 Billion in Trading Post-Approval

VoM News Desk | January 12, 2024 | 09:52 AM IST | Breaking News | Follow on Google News

U.S.-Listed Bitcoin ETFs Witness $4.6 Billion in Trading Post-Approval/Reuters

U.S.-Listed Bitcoin ETFs Witness $4.6 Billion in Trading Post-Approval

Bitcoin exchange-traded funds (ETFs) listed on U.S. exchanges experienced significant trading activity, with $4.6 billion worth of shares traded as of Thursday afternoon.

Eleven spot bitcoin ETFs, including offerings from BlackRock, Grayscale, and ARK, began trading following approval from the U.S.

Securities and Exchange Commission (SEC). Grayscale, BlackRock, and Fidelity dominated trading volumes.

The SEC’s green light for these ETFs marks a crucial moment for the cryptocurrency industry, testing whether digital assets can gain broader acceptance as investments.

While the approvals led to increased bitcoin prices, some industry executives cautioned about the risks of investing in bitcoin.

The competitive landscape among ETF issuers intensified, with firms slashing fees to gain market share.

VoM News Desk

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