Spot Bitcoin ETFs Make a Strong Debut on Wall Street
After much anticipation, the SEC’s approval of spot bitcoin exchange traded products on Wall Street has proven to be a success for crypto investors. Out of the eleven approved bitcoin ETFs, nine debuted on the stock market and attracted nearly $1.5 billion in new capital within the first two days of trading. Bloomberg senior ETF analyst Eric Balchunas shared preliminary data showing the inflows and volume of these ETFs.
BlackRock’s iShares ETF led the pack by attracting almost half a billion dollars in capital, followed by Fidelity’s ETF with over $422 million in inflows. Bitwise ranked third with $237 million, while WisdomTree’s ETF saw only $1 million in inflows. BlackRock’s ETF also achieved over one billion dollars in volume on its first day of trading, making it one of the biggest debuts for an ETF in history. The combined volume for all nine ETFs reached over $3.6 billion in the first two days.
Hot Take: Spot Bitcoin ETFs Prove Their Popularity
The strong debut of spot bitcoin exchange traded products on Wall Street indicates a high level of interest and confidence from crypto investors. With nearly $1.5 billion in new capital and over $3.6 billion in volume within the first two days, these ETFs have made a significant impact. The success of BlackRock’s iShares ETF, which attracted substantial capital and achieved one of the biggest debuts in history, highlights the demand for bitcoin investment opportunities among traditional investors.
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