Bitcoin ETF Trades Top $4.6 Billion in ‘Ground-Breaking’ Day (1)

The first US ETFs that directly hold Bitcoin got off to a strong start, with billions of dollars changing hands in a historical first day of trading for the long-sought investment vehicles.

Over $4.6 billion worth of shares traded between the almost a dozen US spot Bitcoin exchange-traded funds on Thursday. The Grayscale Bitcoin Trust, which converted into an ETF, saw about $2.3 billion in volume, according to data compiled by Bloomberg. Meantime, BlackRock’s iShares Bitcoin Trust—IBIT— saw over $1 billion change hands.

WATCH: Grayscale CIO Michael Sonnenshein calls this a “historic day.”

Source: Bloomberg

“This is definitely ground-breaking,” said Athanasios Psarofagis, an ETF analyst at Bloomberg Intelligence. “There was ...