The first day of trading for a suite of new Bitcoin exchange-traded funds (ETFs) kicked off with a bang, with BlackRock’s, Grayscale’s and Fidelity’s ETFs coming out on top in total volumes. One issuer, however, didn’t get to start as expected.
On the first day of trading spot Bitcoin ETFs including those from Black Rock grayscale and Fidelity collectively reached over 4.5 billion in total volume black Rock’s ey shares Bitcoin trust LED with $1 billion in volume followed by Fidelity’s ETF with 685 million and the grayscale Bitcoin trust with $2.2
Billion however hash’s Bitcoin ETF did not start trading as expected as the SEC did not make its form S1 effective analysts suggest that much of the trading activity may have been selling with investors shifting from older funds like grayscales Bitcoin trust to newer lower fee options the impact on
Underlying Bitcoin purchases will be clearer in the coming days
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