Breaking News: Trading Volume for Spot Bitcoin ETF Surpasses $3 Billion!

The approval of the spot Bitcoin ETF has caused a major stir in the market, with trading volume reaching over $1.75 billion within the first hour. This landmark approval by the Securities and Exchange Commission has propelled the trading volume of the spot Bitcoin ETF to over $3 billion in just a few hours, breaking the record for gold ETF trading volume.

Crypto enthusiasts are ecstatic about this development, as their long wait for ETF approval is finally paying off with these record-breaking volumes. In the first hour alone, trading volume reached $74 billion, and in the next hour, it surpassed the $2 billion mark.

The approval of the spot Bitcoin ETF by the SEC initially had little impact on the market, but as soon as trading began, it quickly gained momentum, reaching a trading volume of almost $1.74 billion in the first hour.

Leading the race are BlackRock and Fidelity, who have already accumulated nearly $958 million in trading volume, and Grayscale, which has reached $1 billion.

Given the rapid increase in trading volume for spot Bitcoin ETFs, it is expected that inflows will soon reach $100 billion. Prominent analysts, such as BlackRock, have already predicted $4 billion in inflows after the approval, and this prediction has quickly become a reality, with inflows crossing the $3 billion mark.

Cathie Wood, CEO of Ark Invest, has also made predictions about the future of Bitcoin. She anticipates that Bitcoin will reach $1.5 billion by 2023, and her bullish outlook is supported by the fact that she holds around 25% of her holdings in Bitcoin.

Overall, the approval of the spot Bitcoin ETF has caused a significant surge in trading volume, and it is expected that this trend will continue to grow in the coming years.

Tags: Bitcoin ETF