Stocks, commodities, real estate, and bonds were all deeply saturated markets in their own rights, with hundreds of years of history, long before they ever got wrapped into an ETF.
That’s not the case with Bitcoin.
It has only been around for 15 years and is at the very beginning of its adoption cycle. Combine that with frenzied anticipation from deep pocketed investors that have been locked out of exposure, and it’s hard to overstate how seismic this could be.
Will it be the most successful ETF launch of all time? Probably.
Before today, it was the ProShares futures ETF ($BITO), which became the first ETF to hit $1 billion in assets under management in just two days.
Gold ETF GLD held the previous record, having crossed the $1 billion mark in three days after it launched in 2004.
Then Bitcoin Spot ETF entered the room. Total trading volumes for BlackRock, Fidelity and Grayscale products exceeded $1 billion in the first 30 minutes of trade.
The two ETFs of Grayscale and Blackrock alone had a trading volume of $840m within the first 30 minutes!
Source: https://blockworks.co/news/bitcoin-etf-trading-volumes-1-billion Credits: Andrew Axelrod
submitted by /u/nicoznico
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