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Breaking: Spot Bitcoin ETF Trading Volume has Crossed $3 Billion!

1 Mins read

The much-awaited spot Bitcoin ETF approval has created waves as in the first hour of trading it crossed $1.75 billion trading volume. After witnessing landmark approval by the Securities and Exchange Commission for Spot Bitcoin ETF. The trading volume of Spot Bitcoin ETF has crossed $3 billion in just a few hours, breaking the record for Gold ETF trading volume.

This has sent crypto enthusiasts to the moon as their ETF approval wait is finally proving worthy of these record-breaking volumes in the first hour it was $74 billion and the next hour it crossed the $2 billion mark.

First-Hour Trading Volume

After the approval of Spot Bitcoin ETF by the SEC, the market was still stagnant, but right after when trading started it witnessed almost 1.74 billion in the first hour itself.

The race is unstoppable, but BlackRock and Fidelity are leading it as in early trading itself both giants have grossed almost $958 million in trading volume and Grayscale hit $1 billion in trading.

How Much Inflows We Can Expect?

Based on the speed with which the trading volume of spot Bitcoin ETFs is increasing, we can estimate that it will not take much time for $100 billion to be inflowed soon. There are many prominent analysts who have already speculated trading inflow as recently BlackRock predicted $4 billion inflows after approval and without taking much time right after approval this prediction proved BlackRock’s forecast coming true as of now it has crossed $3 billion inflows

Ark Invest Cathie Wood Predicted that Bitcoin will hit 1.5 billion by 2023. While sharing her insights with CNBC News regarding the approval decision by the Securities and Exchange Commission. Cathie Wood holds around 25% of her holdings as Bitcoin so, this anticipation by her seems a bullish sign as per the industry outlook.

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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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