Bitcoin spot ETFs generate high trading volume - financial experts analyze the impact on the market

Bitcoin spot ETFs generate high trading volume - financial experts analyze the impact on the market

How www.finanzen.net reports, the US Securities and Exchange Commission (SEC) recently gave the green light to exchange-traded funds (Bitcoin spot ETFs) that invest directly in the cryptocurrency Bitcoin. The first day of trading for Bitcoin spot ETFs took place on January 11th and saw significant amounts of traded volume right from the start.

According to Bloomberg analyst Eric Balchunas, new Bitcoin products from BlackRock, Fidelity and others in the US recorded a total trading volume of $3.67 billion in just two days. Adding the Grayscale Bitcoin Trust, which also converted into a Bitcoin spot ETF, trading volume reached $7.85 billion.

The Grayscale Bitcoin Trust recorded the highest trading volume, followed by shares of the BlackRock iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund and the Bitcoin spot ETF from Cathie Woods ARK Invest together with 21Shares.

The new Bitcoin spot ETFs attracted a total of $1.4 billion in just two days, while the Grayscale Bitcoin Trust saw large net outflows. Investors withdrew a total of $579.1 million from the Grayscale Bitcoin Trust, while the new Bitcoin spot ETFs attracted almost $1.4 billion in net new capital.

According to an assessment by hedge fund SkyBridge Capital, many existing investors could switch to alternative products with lower fees following SEC approval. This may have contributed to the Bitcoin price coming under pressure in the days following the SEC's decision.

Bitcoin spot ETFs cannot yet be traded in Germany because they do not meet EU requirements. However, it is generally expected that suppliers will try to bring their products to the European market in the future.

Overall, the new Bitcoin spot ETFs have already had a significant impact on the market in the first few days of trading, attracting large sums. It remains to be seen how the development of Bitcoin spot ETFs will continue in the coming days and weeks and what long-term impact they will have on the market and the financial industry.