Bitcoin ETFs take Wall Street by storm with their historic debut
Thursday's landmark approval of the first U.S. BTC ETF may have divided opinion on Wall Street over investment credentials in the cryptocurrency space, but what's important is that investors' long-held hopes for what an exchange-traded fund that invests directly in the world's largest digital currency will make money , have finally come true, writes Bloomberg.
It was a highly anticipated debut that came a day after the U.S. Securities and Exchange Commission gave the ETF the green light.
Applications from companies such as: BlackRock Inc. received approval. and Fidelity Investments: their shares worth $4.6 billion were sold out on the first day.
Such ETFs are the perfect springboard for wider adoption of digital assets by everyday investors, making the event the biggest first-day surge in ETF history.
BTC also saw a surge at one point, rising above $49,000 to levels last seen in 2021 before falling back to $44,075.
