It finally happened. Spot Bitcoin exchange-traded funds were approved in the US.
Following a false start the Securities and Exchange Commission approved 11 spot Bitcoin ETFs Wednesday. The funds went to market Thursday, with combined volumes of over $4.3 billion on the first day of trading.
Grayscale’s GBTC registered the highest volumes, over $2 billion, while BlackRock and Fidelity led the newcomers with over $1 billion and $673 million, respectively.
Bitcoin fell over 5% Friday afternoon in London, despite the big event and bettors on Polymarket don’t expect to see fresh highs anytime soon.
There’s only a 22% chance that Bitcoin will beat its previous all-time high around $69,000 by March 31st, bettors on the platform say.
Watch this space!
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Blockchain-based currencies could be a solution for central banks moving away from US dollars and euros. But don’t expect Bitcoin to be what they turn to, writes Wolfgang Münchau in his latest column for DL News.