Spot bitcoin ETFs surpass $1B in trade volumes after first 30 minutes

Bitcoin ETFs are here, and traders are excited. BlackRock, Grayscale and Fidelity emerge as early winners on the first day of trading

article-image

MacroEcon/Shutterstock modified by Blockworks

share

Eleven spot bitcoin ETFs surged out of the gate as they hit the market Thursday morning. 

Total trading volumes for BlackRock, Fidelity and Grayscale products exceeded $1 billion in the first 30 minutes of trade, according to market data crunched by Blockworks.

BlackRock’s iShares Bitcoin Trust (IBIT) led trading volumes with roughly 10 million shares traded in the first 15 minutes after the bell, according to Yahoo Finance data. Investors had traded about 13.5 million of IBIT by 10 am ET.  

The Fidelity Wise Origin Bitcoin Fund (FBTC) and the Grayscale Bitcoin Trust (GBTC) — newly converted to an ETF — had traded roughly 5 million shares and 10.5 million shares, respectively, at that time.

The spot bitcoin ETF by Ark Invest and 21Shares had trading volumes of about 1.7 million shares, or $86 million, at 10 am ET, with all other funds trailing considerably.

Grayscale and BlackRock are shaping up to be bitcoin ETF rivals

The market furor boosted the price of bitcoin itself, which after moving marginally on the approval news itself Wednesday evening, soared above $49,000 for the first time since 2022 Thursday. 

Bitcoin trading volume reached a nearly 10-month high Thursday morning across cryptocurrency exchanges before the start of the trading session, hitting $52 billion just after 7 am in New York, according to data from CoinGecko. 

Ether also spiked, trading around $2,600 and turning around a loss streak to get back in the green year-to-date. The price of ETH is up more than 17% since the start of 2024. 

The first bitcoin futures ETF — the ProShares Bitcoin Strategy ETF (BITO), which launched in October 2021 — saw roughly $950 million in trading volume overall on its first day and reached $1 billion in assets under management within two days. 

More recently, combined trading volumes for six ether futures ETFs that launched in October saw day one volumes worth roughly $2 million, an analysis of Yahoo Finance data showed at the time.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

Institutional staking providers specialize in offering secure, compliant, and scalable solutions for organizations, asset managers, and individuals who wish to stake large volumes of digital assets. Staking-as-a-Service Providers (SaaSPs) act as intermediaries, running blockchain nodes and managing the technical complexities of staking on behalf of clients, often providing custody, reporting, and yield optimization features across a broad range of assets and networks.

article-image

The deal seeks to boost CoinShares’ US expansion and integrates Bastion’s quantitative strategies into its digital asset platform

by Blockworks /
article-image

The defense argues DOJ is criminalizing open-source code and violating First Amendment protections in landmark crypto case

by Blockworks /
article-image

One issuer reported “high conviction” Solana ETFs would be approved in the first half of October

article-image

Should Congress not pass a budget, the SEC will be operating with a skeleton staff starting Wednesday

article-image

Stablecoin, DePIN and robo-advisor teams made the finals

article-image

EF report maps eight factions within the ecosystem, warning that short-term pragmatism is eclipsing the protocol’s founding vision