Grayscale, BlackRock Are Volume Leaders as Bitcoin ETFs Debut

CORRECTION (Jan. 11, 2024, 16:11 UTC): An earlier version of this story had an incorrect ranking.

Bitcoin ETFs have been eagerly anticipated for years. They finally got approved in the U.S. on Wednesday and began trading Thursday. As of 10:15 a.m. ET (15:15 UTC) on Thursday, here is a ranking of the 11 funds by first-day trading volume, according to BitMex Research.

Here’s the full list of the eleven ETFs as of 10:15 a.m. ET (15:15 UTC) on Thursday.

In comparison, ProShares’ futures-based bitcoin ETF (BITO) amassed $1 billion volume on its first day in October 2021. The largest-ever first day volume for an individual ETF launch was $2.1 billion, Bloomberg ETF analyst Eric Balchunas pointed out.

Bitcoin ETFs that can directly hold the underlying asset have been eagerly anticipated in the U.S. following a decade-long struggle to seal regulatory approval. They finally got approved in the U.S. on Wednesday and began trading Thursday.

Bitcoin (BTC) topped $48,000 hitting a fresh two-year high during the day as the ETF trading frenzy commenced.