Bitcoin spot ETF opens with a trading volume of 500 million USD within the first 20 minutes.

Bloomberg analyst Eric Balchunas stated that the Bitcoin spot ETF saw a massive trading volume of five billion US dollars within the first 20 minutes of trading. In the initial days, almost all trading volume will likely convert into inflows.

Bloomberg analyst Eric Balchunas said that the Bitcoin spot ETF saw a massive trading volume of $500 million within the first 20 minutes of trading, with almost all of the initial trading volume translating into inflows in the first few days.

Wow, only 20 min into trading and the volume is big with HALF A BILLION traded for the group (ex GBTC too) (outpacing $BITO by a lot) led by $IBIT (which is near lock to pass $1b) and $FBTC. Imp to note almost all the volume in first few days will convert to inflows. pic.twitter.com/LrGxZTFNsG

— Eric Balchunas (@EricBalchunas) January 11, 2024

After 30 minutes of trading, it has already surpassed $1.2 billion:

Spot #bitcoin ETFs crossed $1.2 billion in trading volume in first 30 min of trading!

It's not fancy but here's the Cointucky Derby as im watching it. @vaneck_us's $HODL got a later start than the others but @Grayscale's $GBTC and @BlackRock's $IBIT are HOT out of the gate. pic.twitter.com/FKYev3JSrq

— James Seyffart (@JSeyff) January 11, 2024