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

Over $4.6 billion changed hands across the Bitcoin funds
Converted GBTC registers most first day of ETF trading ever

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

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By Emily Graffeo and Katie Greifeld

January 11, 2024 at 6:38 PM UTC

Updated on

January 11, 2024 at 10:49 PM UTC

This article is for subscribers only.

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.