We just witnessed history:
It's only been half of the trading day these 9 #Bitcoin ETFs have already broken their DAILY trading volume record.
There's been a total of $2.6 BILLION in volume today alone.
If current volume persists, this puts us on track for the first day with $5 billion+ in Bitcoin ETF volume.
There are also 4 Bitcoin ETFs in the top 20 by volume according to Bloomberg's Eric Balchunas.
Bitcoin ETFs are suddenly some of the most popular ETFs in the world.
Talk about a turn of events.
We are into our 7th week of attempting to crack this resistance level. $BTC has done surprisingly well to not fall away too far each time it gets rejected.
We are into our 7th week of attempting to crack this resistance level. $BTC has done surprisingly well to not fall away too far each time it gets rejected.
You get bigger swings on $USDT...
Looks like we will be waiting on trading to start before seeing what impact this #ETF is has on $BTC in the short term. $ETH getting most of the love this morning.
Pushing $10B in the first few days is an impressive start.
I think we’ll see the ETF providing a level of solid buy pressure for the coming years ahead. $BTC
Update on the #Bitcoin ETF Cointucky Derby. The ETFs have traded almost $10 billion total over 3 days. Will have updated flows and assets later tonight or tomorrow morning.
Since the Fed started raising interest rates in March 2022, money market funds have seen massive inflows.
Total assets held in money market fund went from $4.5 trillion to $6 trillion in 2 years, a 33% increase.
Now, the Fed is expected to begin cutting interest rates.
With record levels of capital on the sidelines, we could see a widespread rotation out of these money market funds.
If this capital goes back into the equity market, the recent run is far from over.
Never has there been more capital on the sidelines.
Here's the #Bitcoin ETF Cointucky Derby data via trading volume on day 1 (more volume will continue for a little while).
Total Volume was over $4.6 Billion with $GBTC about half of it. BlackRock & Fidelity went 1 & 2 absent GBTC.
“I am happy to confirm that the Grayscale team has received necessary regulatory approvals to uplist GBTC to NYSE Arca, and we will share a press release with additional information shortly” ~ Grayscale spokesperson
🚨BREAKING🚨
Bitcoin ETFs Likely Approved by the SEC
It certainly looks like the #Bitcoin ETF Approval order had hit the SEC website but the link is no longer working. That said, this document looks accurate to me.
https://t.co/NhJueWNPJ0