Markets react positively to the first trading day for spot BTC ETFs, with Bitcoin rallying to nearly $49,000 and ETH hitting a 12-month high.
After eagerly waiting for nearly 10 years, traders finally saw the first-ever spot Bitcoin (BTC) exchange-traded fund (ETF) approved by the United States Securities and Exchange Commission on Jan. 10, and ETF trading began at the opening bell, less than 24 hours later.
BlackRock’s iShares Bitcoin Trust (IBIT), Grayscale Bitcoin Trust (GBTC), Valkyrie Bitcoin Fund (BRRR), Bitwise (BITB) and ARK 21Shares Bitcoin ETF, among others, have begun trading.
The first few hours of trading saw high trading volume coming in. Bloomberg Bitcoin ETF analyst Eric Balchunas made a similar observation, saying:
