Grayscale’s Bitcoin ETF Sees $1 Billion in Trading Volume
Grayscale’s Bitcoin ETF has reached approximately $1 billion in trading volume, although it is unclear how much of that represents capital flowing out of the fund. Meanwhile, the ARK 21Shares Bitcoin ETF recorded $148 million in trading volume. Other new spot bitcoin ETFs, such as those offered by Franklin Templeton and Valkyrie, had volumes below $10 million.
Spot Bitcoin ETFs Could Attract $100 Billion
Experts speculate that the newly approved spot bitcoin ETFs could bring in as much as $50 billion to $100 billion in capital by 2024. These instruments allow investors to bet on the price of bitcoin without actually owning the digital currency. The Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs is seen as a significant boost for the crypto market, leading to increased value for not only bitcoin but also other top tokens.
About the Author
RT Watson is a senior reporter at The Block with expertise in U.S.-based companies, blockchain gaming, and NFTs. Previously, he covered entertainment at The Wall Street Journal and corporate news in Brazil for Bloomberg. With a master’s degree in Digital Sociology, RT has conducted interviews with CEOs, media moguls, politicians, and various other individuals.
Hot Take: Spot Bitcoin ETFs Open Doors for Billions of Dollars in Capital
The approval of spot bitcoin ETFs by the Securities and Exchange Commission has paved the way for significant capital influx into the crypto market. With investors now able to trade based on bitcoin price movements without owning the digital asset directly, experts predict that these new instruments could attract billions of dollars over the next few years. This development marks a major milestone for the industry and is expected to fuel further growth and adoption of cryptocurrencies. As more investors gain exposure to bitcoin through regulated ETFs, the market is likely to experience increased liquidity and stability.
By
By
By
By
By
By