First Trading Day of Bitcoin ETFs: Closing at $4.5 Billion

Crypto News – The new Bitcoin funds accomplished several notable milestones and cleared $4.5 billion in volume.

First Trading Day of Bitcoin ETFs: Closing at $4.5 Billion

In spite of all the hype, market watchers did not anticipate such a significant debut for every brand.

Even attaining $500 million in day-one inflows is a noteworthy challenge,

Adam Guren, co-founder of crypto hedge fund Hunting Hill Digital

Nearly $1 billion worth of volume was cleared by BlackRock’s iShares Bitcoin Trust, which is traded on the Nasdaq under the IBIT symbol. Across the 10 spot Bitcoin ETFs, it represented 22% of the whole activity on Thursday. Even though BlackRock‘s IBIT had a great morning session, it ended the day trading at $26.62, down 4.6% from its opening. The fund witnessed a wild opening, with three million shares trading before the markets opened, but as the day wore on, the momentum waned.

Why was Hashdex Removed?

One new spot BTC fund was removed from the list of freshly traded spot funds during the day. The Securities and Exchange Commission included the Hashdex Bitcoin ETF in its list of approved Bitcoin ETFs when it made its statement yesterday. In order to dispel some misconceptions, Hashdex released its own notice this afternoon.

The fund, which is currently a futures product, presently does not hold spot Bitcoin in its portfolio. At a later date, the fund will change its name and change its investment strategy to permit spot bitcoin in its portfolio.

the company