Since the SEC approved the Bitcoin spot ETF this week, the price of Bitcoin has fluctuated: immediately after the approval, the highest point reached more than 48,000 US dollars, and then fell all the way, experiencing a period of plateauing around 46,000 US dollars. It later fell to the lowest point below US$42,000 and is now stable at around US$43,000, with a 7-day decline of 1.69%.
Odaily previously reported that according to data from Yahoo Finance, the spot Bitcoin ETF’s trading volume on the first day of trading was US$4.6 billion, with a total trading volume of US$3.1 billion on the second day, and a cumulative total trading volume of nearly US$7.7 billion. Among newly launched spot Bitcoin fund issuers, BlackRock led the way with $564 million in volume on Friday, while Fidelity had $431 million.
Neither comes close to the volume of Grayscale’s GBTC – the ETF accounted for more than half of the total volume at $2.29 billion on Thursday and $1.83 billion on Friday.
According to BitMEX Research statistics, on the second day of listing and trading of the spot Bitcoin ETF, GBTC outflows were US$484 million, and the total GBTC outflows in the first two days were US$579 million.
