Bitcoin Spot ETF Trading Volume Surpasses 12 Billion Within 30 Minutes of Opening

After obtaining approval from the U.S. Securities and Exchange Commission (SEC), multiple Bitcoin spot ETFs began trading on Thursday (the 11th). Bloomberg ETF analyst James Seyffart stated on the X platform that the total trading volume of Bitcoin spot ETFs exceeded $1.2 billion within the first 30 minutes of trading. Currently, the ETF with the highest trading volume is Grayscale’s GBTC (over $446 million), followed by BlackRock’s IBIT with a trading volume of $338 million. Seyffart mentioned that it is currently unclear how much of the trading volume is due to fund flows (i.e. new funds coming in or going out), and he speculated that most of GBTC’s trading volume may be funds flowing out. According to TradingView data, the price of Bitcoin briefly approached $49,000 within the first 30 minutes after the U.S. stock market opened, but had dropped below $48,000 at the time of writing, reaching $47,350.