Bitcoin ETFs storm onto the Nasdaq, NYSE Arca, and Cboe, igniting a trading frenzy!
Written byRock Buivy
Post Date: 30 Jan, 24
BlackRock’s Bitcoin ETF had a 22% increase in pre-market trading, and as of this writing, shares are trading at $28.64.
In response to a historic permission on January 10 by the US Securities and Exchange Commission, shares of a number of spot Bitcoin exchange-traded funds (ETFs) have begun trading on exchanges.
The shares of the Bitcoin ETF from ARK 21Shares were trading at $50.18 under the ticker ARKB as of 2:45 pm UTC on January 11, according to data from the Cboe BZX Exchange.
Shares from Invesco Galaxy were trading at $49.59 under BTCO, WisdomTree at $52.13 under BTCW, Fidelity at $44.40 under FBTC, and Franklin Temple at $28.48 under EZBC.
“BlackRock’s Bitcoin ETF surges by 22% in pre-market trading, while ARK 21Shares leads the charge with shares trading at $50.18. The SEC’s historic approval ignites trading frenzy as multiple spot Bitcoin ETFs hit exchanges, signaling a new era in cryptocurrency investment.”
Although it was scheduled to open at $54.92, VanEck’s spot BTC ETF, which goes by the ticker name HODL, did not seem to be active at the time of publication.
Shares of the Valkyrie Bitcoin Fund, trading under the symbol BRRR, began pre-market trading on the Nasdaq Stock Market for about $20.10, but as of the time of publication, they were down to $14.10.
In some pre-market action, shares of the iShares Bitcoin Trust under IBIT, which is distributed by BlackRock, the largest asset management in the world, increased by over 22%; as of the time of writing, they were trading at $28.64.
One of the products that most likely helped the SEC approve the investment vehicles was the spot Bitcoin ETF issued by Grayscale Investments.
It began trading at $42.25 under the symbol GBTC on the New York Stock Exchange Arca and increased to $42.97 at the time of publishing.
After receiving approval from the SEC, shares of the Bitwise Bitcoin Trust began trading at $26.80 under the ticker BITB, while shares of the Hashdex Bitcoin Futures ETF, which also contains spot Bitcoin, launched at $60.00 under the symbol DEFI.
Significant market activity resulted from the US Securities and Exchange Commission’s approval of spot Bitcoin exchange-traded funds (ETFs) on January 10.
A number of these ETFs made their debut on exchanges.
The price of ARK 21Shares’ Bitcoin ETF, known as ARKB, jumped to $50.18. Invesco Galaxy’s BTCO, WisdomTree’s BTCW, Fidelity’s FBTC, and Franklin Temple’s EZBC were trading at $49.59, $44.40, and $28.48, respectively.
VanEck’s HODL ETF was not yet active, with an expected opening price of $54.92.
In the meantime, the Valkyrie Bitcoin Fund, represented by the symbol BRRR, fell to $14.10 after starting trading at $20.10.
Spot Bitcoin ETFs: A New Era in Cryptocurrency Investing Emerges
the approval of spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission has triggered a flurry of activity in the market, with various ETFs quickly making their debut on exchanges.
This milestone marks a significant step forward for the cryptocurrency industry, as it opens up new avenues for investors to gain exposure to Bitcoin through traditional financial channels.
The surge in trading volumes and price movements observed in the pre-market and initial trading sessions reflect the heightened interest and anticipation surrounding these ETFs, highlighting the growing mainstream acceptance of cryptocurrencies as an investable asset class.
In conclusion, the introduction of spot Bitcoin ETFs represents a pivotal moment in the evolution of the cryptocurrency market, signaling a shift towards greater accessibility and legitimacy.
While the initial trading activity has been met with enthusiasm, it also underscores the need for careful consideration and monitoring of market dynamics, given the inherent volatility and complexity of the cryptocurrency space.
As these ETFs continue to gain traction and influence in the financial landscape, stakeholders must remain vigilant in navigating the opportunities and risks associated with this emerging asset class.
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