Spot bitcoin ETFs trades $4.6 billion on first day

The spot Bitcoin ETF shattered expectations, making waves with an astonishing $4.6 billion in trades on its first day according to LSEG data, the highest ever for an ETF launch. Now more investors are trying to dive into Bitcoin through traditional channels.
Eleven spot Bitcoin ETFs, such as BlackRock’s iShares Bitcoin Trust, Grayscale Bitcoin Trust, and ARK 21Shares Bitcoin ETF, started trading on Thursday morning. This marks the beginning of an intense competition for market dominance among these funds as Bitcoin enters a new era with approvals of these ETFs.
According to senior Bloomberg ETF specialist @eric balchunas Grayscale Bitcoin trust (GBTC) made up over half of the volume of the $4.6 billion traded today with just over $2.3 billion in trading volumes. Even if you exclude GBTC volume today would still be the largest single day launch in tading volumes for ETFs ever. GBTC having the largest pre-existing customer base to market will likely have the largest volumer for the foreseeable future, however with their fees being the highest at 1.5% .

Excluding GBTC for a while other ETFs black rock and fidelity are also performing well and here black rock has stolen the show with their beautiful website outlook showing their clients that Bitcoin has been the top performing asset seven out of last ten years. Fidelity is won massively becausr of todays biggest loser Vanguard, the $7.2 trillion asset managet has told its 50 million investors that currently we are not allowing those to be puchased as it doesn’t fit with Vanguard’s investment philosphy which is ironic because Vanguard actually owns over 8% of micro strategy.

Bitcoin price remained relatively flat today reaching $49,000 per coin and its trading voulmes saw a 30% increase reaching 22.85% coin left on exchanges because over 70% of Bitcoin supply thats held by bitcoiners has not moved in.

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