Spot Bitcoin Exchange-Traded Funds (ETFs) experienced a robust second day of trading on January 12, with cumulative volume swiftly surpassing $6 billion, despite Bitcoin’s price falling below $45,000. The first trading day saw approximately $4.6 billion in transactions.
According to Yahoo Finance, the ETFs saw $905 million in activity on their second day. Bloomberg Intelligence senior ETF analyst Eric Balchunas highlighted the success of the launch, emphasizing its historic nature and the limited platform availability.
BlackRock’s spot Bitcoin ETF led the market on January 11 with just over $1 billion in trades, ranking it among the top 25 best ETF launches in history, as per Balchunas’s analysis.
Grayscale led the category with $2.3 billion in volume on January 11, and continued to lead on the second day with $470 million, while BlackRock followed with $212 million early in the day. Bitwise’s ETF might have led with significant inflows of $238 million, according to preliminary data from Bloomberg.
Preliminary data also indicated that Fidelity was second with $227 million in inflows, and BlackRock had $111 million. These figures are subject to change and could increase. Meanwhile, Bitcoin’s price drop from $49,000 to below $44,000 in the last 24 hours had a chilling effect on investors.
