BlackRock’s Bitcoin ETF makes historic debut amid US Spark rally.
Key Takeaways
- BlackRock’s iShares Bitcoin Trust (IBIT) surged 22.25% in its US pre-market launch.
- The US SEC has approved 11 spot Bitcoin ETFs, all of which are scheduled to begin trading on January 11th.
- Despite significant progress in America’s first Bitcoin spot ETF, the price of Bitcoin has remained stable at around $46,000.
The launch of the first Bitcoin spot exchange-traded fund (ETF) in the U.S. marks an important milestone for cryptocurrency investing.
ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) began its journey in the pre-market trading phase. It has been one day since the U.S. Securities and Exchange Commission (SEC) approved it.
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The ETF, listed on the Nasdaq exchange under the name IBIT, showed impressive initial performance. It surged 22.25% to trade at $26.81..
This initial stage of trading I saw IBIT move $2 million worth of stock.was Highlights from Bloomberg’s Senior ETF Analyst Eric Balchunas. Balchunas said that such a quantity It usually marks the first day of an average ETF.. But he suggested that BlackRock may have been the driving force behind this initial surge.
At the same time, Grayscale’s GBTC (Bitcoin Trust) ETF, listed on the New York Stock Exchange, also participated in pre-market trading. GBTC experienced a 2% increase during the initial hours..
The SEC’s decision to approve the 19b-4 applications for ARK 21 Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton was groundbreaking. This decision paves the way for spot Bitcoin ETFs to be listed and traded on various public exchanges.
Despite remarkable progress, Bitcoin price has remained relatively stable.It hovers around $46,000 before and after ETF approval.
This quiet response contrasts sharply with: Cryptocurrency response to news of incorrect ETF approval On January 9, the price soared to $48,000. Market analysts speculate: Bitcoin price may show strength as official trading begins.This is because significant capital inflow is expected into these ETFs.
In a landmark event for U.S. financial markets, BlackRock’s launch of the first Bitcoin Spot ETF marks a significant step forward for cryptocurrency investing, with significant pre-market gains hinting at a potentially transformative impact on the cryptocurrency landscape. Got it.
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