The cryptocurrency community has been excitedly awaiting the arrival of Bitcoin Spot ETFs, which began trading on US stock exchanges with a transaction volume above $1 billion.
According to market statistics analyzed by Blockworks, total trading volumes for BlackRock, Fidelity, and Grayscale products surpassed $1 billion in the first half hour of trading.
Bloomberg ETF analyst Eric Balchunas posted, “Wow, only 20 min into trading and the volume is big with HALF A BILLION traded for the group (ex GBTC too) (outpacing $BITO by a lot) led by $IBIT (which is near lock to pass $1b) and $FBTC.”
He also added that it is worth noting that almost all of the volume in the first few days will turn into inflows.
The most recent data shows that there were more than 2.3 billion dollars worth of transactions in Bitcoin Spot ETFs.
