empty
11.01.2024 10:10 PM
Bitcoin: Spot ETF Transaction Volume Exceeds $1 Billion in First Minutes of Trading

The eagerly awaited Bitcoin Spot ETFs began trading on U.S. stock exchanges on Thursday, with their transaction volume exceeding $1 billion. Against this backdrop, the price of Bitcoin surpassed $48,000.

According to recent data, the transaction volume in Bitcoin Spot ETFs surpassed $2.3 billion. Bloomberg ETF analyst Eric Balchunas remarked on the launch results, noting that within just 20 minutes of trading, the volume was significantly high, "with half a billion traded within the group (including GBTC), led by IBIT (close to passing $1 billion) and FBTC (far surpassing BITO)." He also noted that "almost all the volume in the first few days will turn into inflows."

Bloomberg analyst James Seyffart reported that in the first 30 minutes of opening, the transaction volume of the BTC ETF spot group exceeded $1.2 billion, of which GBTC reached 446 million, IBIT — 389 million, and FBTC — 230 million.

This image is no longer relevant

How the Approval of Bitcoin Spot ETFs Will Affect the Market in the Long Term

Currently, the market is experiencing euphoria over the long-awaited approval. But economists are looking ahead, assessing the potential long-term impact on the price of BTC of this landmark event.

Some of them believe that this approval will be a serious demand shock in the market, occurring several months before the recurring supply shock of Bitcoin - the halving expected in April 2024. When a halving occurs, the rewards received by miners are cut by 50%.

Against this background, Bitcoin miners represent an attractive investment opportunity for investors looking for a way to access this long-term deal on the implementation of Bitcoin, thanks to its borrowed growth potential and theoretical risk hedging. Spot ETFs could bring "significant profit" and have a positive impact on the valuation of Bitcoin miners.

In this context, the approval of spot ETFs is a historic moment for Bitcoin and miners, as ETFs offer both retail and institutional investors a familiar and regulated investment tool, significantly expanding access to the main cryptocurrency.

Analyst Mike Colonnese believes that "many institutional and retail investors interested in BTC lack either the desire or the ability to invest directly in BTC, considering the nuances of requirements for acquiring digital assets." He also conveyed an expectation of a considerable rise in the demand for BTC, facilitated by these recently approved spot ETFs.

Capital to flood the cryptocurrency market

The next 24 months will be extremely interesting for the cryptocurrency industry, as evidenced by intense speculation from global investors. The approval of eleven Bitcoin Spot ETFs in the United States has opened the gates for billions of dollars to flow into the cryptocurrency market, thereby improving existing liquidity.

Moreover, any investor can now seamlessly use Bitcoin through traditional stock exchanges, with liquidity provided by traditional financial institutions and other authoritative market makers.

Well-known crypto influencer Michael van de Poppe noted that the approval of Spot Bitcoin ETFs in the U.S. significantly increased trust in the cryptocurrency market, leading to various models of macro price forecasts.

Against this backdrop, the price of Bitcoin could reach $600,000 during this bullish cycle. As a result, the analyst emphasized that investors should use a potential drop to the range of $36,000 to $40,000 in the short term to accumulate positions.

A similar bullish forecast was made by popular crypto analyst PlanB, using his S2F model. Notably, the crypto analyst expects that by the end of 2025, the price of Bitcoin will reach $532,000.

It's also worth noting that the altcoin market will also significantly benefit from the expected growth of Bitcoin in the coming quarters, as it will provide much-needed liquidity.

As a result, Bitcoin's dominance will continue to fall over the next two years, possibly dropping below 30 percent. Moreover, the emergence of first-tier blockchains that support smart contracts and web3 protocols is attracting more investors to the cryptocurrency industry.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Recomendaciones para operar en el mercado de criptomonedas el 26 de marzo

El Bitcoin y Ethereum continúan mostrando un crecimiento activo, pero también enfrentan dificultades al superar niveles importantes de resistencia. Ayer, el Bitcoin, tras alcanzar los $88 400, retrocedió y actualmente

Miroslaw Bawulski 07:32 2025-03-26 UTC+2

El Bitcoin se estanca antes de un nuevo impulso por encima de los $90 000

Mientras estás pensando si comprar Bitcoin o no, el mayor gestor de activos del mundo, la empresa BlackRock, está aumentando activamente sus reservas de ETH para su fondo tokenizado BUIDL

Jakub Novak 07:32 2025-03-26 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 25 de marzo

El Bitcoin y Ethereum lograron actualizar niveles bastante importantes, pero una vez más no pudieron mantenerse por encima de ellos. El Bitcoin, tras alcanzar el nivel de $88 600, retrocedió

Miroslaw Bawulski 07:48 2025-03-25 UTC+2

Por qué la caída de Bitcoin aún no ha terminado

A pesar del reciente crecimiento del mercado de criptomonedas, por ahora las perspectivas alcistas más amplias y el regreso del Bitcoin al nivel de $100 000 siguen siendo poco realistas

Jakub Novak 07:48 2025-03-25 UTC+2

Recomendaciones de trading en el mercado de criptomonedas para el 24 de marzo

El Bitcoin y Ethereum han mostrado un crecimiento bastante sólido hoy después de un fin de semana algo apagado, lo que indica una creciente disposición de los inversores al riesgo

Miroslaw Bawulski 08:41 2025-03-24 UTC+2

El Bitcoin y Ethereum muestran señales de reactivación

El Bitcoin y Ethereum han retomado su crecimiento tras una pausa tomada por los traders durante el fin de semana. Sin embargo, aún es prematuro hablar del desarrollo

Jakub Novak 08:41 2025-03-24 UTC+2

Análisis del par BTC/USD. El 24 de marzo. El Bitcoin continúa en corrección

La estructura de ondas en el gráfico de 4 horas del instrumento BTC/USD es completamente clara. Después de finalizar una fase de tendencia alcista compuesta por cinco ondas completas, comenzó

Chin Zhao 08:41 2025-03-24 UTC+2

El Bitcoin apunta a $90 000

Después de la reunión de ayer de la Reserva Federal, en la que el regulador se quedó sin muchos argumentos para mantener las tasas altas, el Bitcoin y Ethereum reanudaron

Jakub Novak 07:57 2025-03-20 UTC+2

Recomendaciones para operar en el mercado de criptomonedas para el 20 de marzo

El Bitcoin y Ethereum han vuelto a subir tras la reunión de ayer de la Reserva Federal, donde quedó claro que será necesario reducir las tasas

Miroslaw Bawulski 07:57 2025-03-20 UTC+2

Recomendaciones de trading en el mercado de criptomonedas para el 19 de marzo

El Bitcoin y Ethereum enfrentaron nuevamente dificultades tras otra venta masiva en el mercado bursátil estadounidense ayer. Sin embargo, compradores y grandes jugadores intervinieron nuevamente, absorbiendo todas las caídas

Miroslaw Bawulski 09:34 2025-03-19 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.