The first day of trading for the 10 approved spot Bitcoin ETFs started with a bang, and the momentum appears to be continuing.
According to data from the TIE terminal at 12 p.m. ET, the total volume exceeded $2.6 billion.
Grayscale and BlackRock lead the field
BlackRock's iShares Bitcoin Trust and Grayscale led trading volumes in early afternoon trading. Around 26 million shares of the BlackRock fund have been traded since the ETF's launch on Thursday morning.
Read more: Bitcoin ETF tracker
Data from Yahoo Finance shows that about 33 million shares of Grayscale's recently converted ETF have been traded as of this morning.
Fidelity rounded out the top three ETFs with a volume of 11 million shares traded.
After briefly surpassing $49,000 on Thursday, the price of Bitcoin (BTC) settled around $46,000. According to data from CoinGecko, the 24-hour trading volume for Bitcoin reached $55 billion.
The trading volume of spot Bitcoin ETFs exceeded $1 billion within the first 30 minutes of trading.
On Wednesday, the US Securities and Exchange Commission approved the 11 spot Bitcoin ETFs. After the S-1s went into effect, the ETFs opened for trading on Thursday morning.
So far, the volumes have far exceeded the volumes of the ProShares Bitcoin Strategy ETF (BITO), which launched back in October 2021.
On the fund's first day of trading, the fund recorded read volume of around $950 million and reached $1 billion in assets under management (AUM) in the following days.
Editor's Note: After publishing this story, Hashdex announced that — although a rule change to list Hashdex's Bitcoin futures fund as a spot product was approved — the registration statement converting the fund is still under review by the SEC.
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