#BitcoinETFs #SEC #Blackrock #Cryptocurrency #BitMEXResearch #BitcoinTrading #FinancialMarkets #DigitalAssets
The US Securities and Exchange Commission (SEC) has officially approved the much-anticipated Spot Bitcoin ETFs, igniting some notable market fluctuations. The inaugural day of trading for the 11 approved Spot ETFs was outstanding, trading approximately $4.6 billion worth of ETF shares. The trading volumes continued to be substantial on the second day; boosting the aggregate volume to over $7.6 billion. BitMEX Research indicates that the 11 Spot Bitcoin ETFs reported a net inflow of $532 million in the first two days. Blackrock emerged with a dominant position, racking up $497.7 million in BTC.
The statistics after two days of ETF trading shed light on the performance of the 11 ETFs, pinpointing the leaders and the laggards. As anticipated, Blackrock leads with the highest total of Bitcoin assets in its ETF. Even though Blackrock started with a net inflow of $111.7 million on the initial trading day, falling behind Bitwise and Fidelity with their $237.9 million and $227 million respectively, Blackrock surged to the top on the second day. More notably, Blackrock recorded the highest net inflow of $386 million on the second day, pushing its total inflow in the first two days to $497.7 million. According to Blackrock’s website, its spot Bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), holds 11,439.2 BTC.
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