On the first trading day for Bitcoin ETFs, $4.6 billion worth of shares were sold on stock exchanges. The largest volumes were from Grayscale, BlackRock and Fidelity. Reuters writes about this.
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On January 10, the SEC approved 11 applications from issuers of spot Bitcoin ETFs, a 10-year wait. The Commission has denied companies registration for such a trading instrument many times before.
Eleven spot Bitcoin ETFs, including the BlackRock iShares Bitcoin Trust, Grayscale Bitcoin Trust and ARK 21Shares Bitcoin ETF, among others, began trading on Thursday morning , marking the beginning of fierce competition in the market,” says a Reuters report.
The publication also notes that some companies have designated their Bitcoin ETFs as a high-risk investment. At the same time, Vanguard even refused to issue the next batch of shares.
The launch of the ETF raised the price of Bitcoin to its highest level since December 2021. At the top of the day, its price reached almost $49 thousand. After this, there was a pullback, by the time the news was written, the cost is $45 thousand.
BTC price dynamics after the start of Bitcoin ETF trading/Source: CoinMarketCap