After obtaining approval from the U.S. Securities and Exchange Commission (SEC), several Bitcoin spot ETFs began trading on Thursday (11th). According to James Seyffart, an ETF analyst at Bloomberg, the total trading volume of Bitcoin spot ETFs exceeded $1.2 billion within the first 30 minutes of trading on the X platform. Currently, the ETF with the highest trading volume is GBTC (over $446 million) launched by Grayscale, followed by IBIT launched by BlackRock with a trading volume of $338 million. Seyffart mentioned that it is currently unknown how much of the trading volume belongs to fund flows (i.e., new funds flowing in or out), and he speculates that a significant portion of GBTC’s trading volume may be fund outflows. According to TradingView data, the price of Bitcoin approached $49,000 within the first 30 minutes after the U.S. stock market opened, but as of the deadline, it had fallen below $48,000 and reached $47,350.
