Spot bitcoin ETF trading volumes surpass $2.6B

BlackRock, Grayscale and Fidelity lead the charge


Artwork by Crystal Le


The first day of trading for the 10 approved spot bitcoin ETFs started with a bang, and the momentum seems to be holding. 

As of 12 pm ET, total volumes surpassed $2.6 billion, according to data from the TIE terminal.

Grayscale and BlackRock lead the pack

BlackRock’s iShares Bitcoin Trust and Grayscale led trade volume in early afternoon trading, with roughly 26 million shares in BlackRock’s fund traded since the ETF launched Thursday morning. 

Read more: Bitcoin ETF tracker

Yahoo Finance data shows roughly 33 million shares of Grayscale’s recently converted ETF have traded since this morning. 

Fidelity rounded out the top three ETFs with volume sitting at 11 million shares traded. 

After briefly topping $49,000 Thursday, the price of bitcoin (BTC) settled around $46,000. According to data from CoinGecko, the 24-hour trading volume for bitcoin hit $55 billion.

The spot bitcoin ETFs surpassed $1 billion in trade volume within the first 30 minutes of trading after the bell. 

On Wednesday, the US Securities and Exchange Commission approved the 11 spot bitcoin ETFs. After making the S-1s effective, the ETFs were cleared to start trading Thursday morning. 

So far the volumes have far outpaced the volumes seen by the ProShares Bitcoin Strategy ETF (BITO), which launched back in October 2021. 

The fund’s first trading day saw roughly $950 million in reading volume, reaching $1 billion in assets under management (AUM) in the following days.

Editor’s note: Following the publication of this story, Hashdex revealed that — while  a rule change to list Hashdex’s bitcoin futures fund as a spot product was approved — its registration statement to convert the fund is still under SEC review.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space


Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?


Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month


It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet


Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend


Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million